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Question 1. Compare and contrast Journal with Ledger with their respective formats. Question 2. What is Inventory? Discuss the four methods of inventory valuation with

Question 1. Compare and contrast Journal with Ledger with their respective formats.

Question 2. What is Inventory? Discuss the four methods of inventory valuation with suitable example.

Question 3. What do you mean by a Trial Balance? How is it prepared?

Question 4. Compare FIFO with LIFO with suitable examples.

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