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Which of the following accounts would be included in the chart of accounts of a merchandising company using the (a) periodic inventory system, (b) perpetual

Which of the following accounts would be included in the chart of accounts of a merchandising company using the (a) periodic inventory system, (b) perpetual inventory system, or (C) both systems? 1. Purchases Both Systems 2. Inventory Periodic Inventory System 3. Sales Perpetual Inventory System 4. Purchases Discounts Both Systems 5. Cost of Goods Sold 6. Freight In 7. Delivery Expense

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