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Match each description to the appropriate inventory system (periodic or perpetual). This system can be costly and time consuming if not computerized. Average cost is
Match each description to the appropriate inventory system (periodic or perpetual). This system can be costly and time consuming if not computerized. Average cost is rarely used with this system When using this system, a physical inventory is necessary to determine cost of goods sold. Under this system, revenue is the only income statement account recorded when sales are made
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