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College Accounting (Book Only): A ...

13th Edition
Scott + 1 other
ISBN: 9781337280570

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BuyFindarrow_forward

College Accounting (Book Only): A ...

13th Edition
Scott + 1 other
ISBN: 9781337280570
Textbook Problem

Why is it necessary to adjust the Merchandise Inventory account under a periodic inventory system?

To determine

Give necessary reason for adjusting the merchandise inventory account under a periodic inventory system.

Explanation

Periodic inventory system: The method or system of recording the transactions related to inventory occasionally or periodically are referred to as periodic inventory system.

Reason for adjusting the merchandise inventory account:...

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