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You own Widgets R Us and are preparing your year-end financial statements. 1.What inventory system do you use and why? What are its advantages and

You own Widgets R Us and are preparing your year-end financial statements. 1.What inventory system do you use and why? What are its advantages and disadvantages? 2.What activities should you perform to correctly account for your inventory at year-end? 3.Why is it important to track inventory? What does this information tell you about your business

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