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You and a college friend have decided to start a merchandising business that markets green products: people-and-earth-friendly products for the home and business. You have
You and a college friend have decided to start a merchandising business that markets green products: people-and-earth-friendly products for the home and business. You have identified approximately 100 different items, including bath soaps, home cleaning products, plant-friendly foods and pesticides, and a line of organic canned foods. Both of you have taken accounting courses and are trying to decide whether to use the periodic or perpetual inventory system. What are the advantages, disadvantages, and implications of each system?
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