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For a business that uses the periodic inventory system, a. the retail method of estimating ending inventory is acceptable. b. the gross profit method of
For a business that uses the periodic inventory system, a. the retail method of estimating ending inventory is acceptable. b. the gross profit method of estimating ending inventory is acceptable. c. taking physical inventory for interim financial statements is necessary. d. "the gross profit method of estimating ending inventory is acceptable" and "the retail method of estimating ending inventory is acceptable" only
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