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Question 1: Proficient : Explain why proper inventory valuation is so important to the calculation of a company's bottom line net income. Whatisthemeaningoftakingaphysicalinventoryandwhyisitimportanttotakeaphysicalinventorywhenusingaperpetualinventorysystem. Distinguished: Explain
Question 1:
- Proficient:
- Explain why proper inventory valuation is so important to the calculation of a company's "bottom line" net income.
- Whatisthemeaningoftakingaphysicalinventoryandwhyisitimportanttotakeaphysicalinventorywhenusingaperpetualinventorysystem.
- Distinguished:
- Explain the accountant's role regarding taking a physical inventory.
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