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Tyrone Sound Systems uses a periodic inventory system. One of the store's products is a wireless headphone. The inventory quantities, purchases, and sales of this

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Tyrone Sound Systems uses a periodic inventory system. One of the store's products is a wireless headphone. The inventory quantities, purchases, and sales of this product for the most recent year are as follows: In order to show the most realistic balance sheet value in the financial statements, Tyrone Sound Systems should use the cost assumption in determining inventory balances

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