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When neither a perpetual system is maintained nor a

Question: 1. When neither a perpetual system is maintained nor a periodic inventory is taken, how can an ending merchandise inventory be determined that is accurate enough for a monthly income statement?

2. What amounts are needed to estimate ending merchandise inventory?

3. What amount is used for beginning inventory for a month that is not the first month of a fiscal period?

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Accounting Basics: When neither a perpetual system is maintained nor a

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Accounting Basics: When neither a perpetual system is maintained nor a

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