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Describe how the perpetual inventory system works

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What are the two fundamental equality requirements of the double-entry accounting system? efine debit and credit and explain how assets, liabilities, common stock, retained earnings, revenues, expenses, and dividends are affected by (increased or decreased) by debits and by credits.

Describe how the perpetual inventory system works. What are some advantages of using the perpetual inventory system? Is it necessary to take physical inventory when using the perpetual system?

 

Reference no: EM13508889

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