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Compare and contrast the recording process (including costs) for the types of transactions involved in...

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Accounting

Compare and contrast the recording process (including costs) for the types of transactions involved in purchasing and selling merchandise inventory using a perpetual inventory system or a periodic system. How does the choice of system affect financial decisions in a company? Describe the circumstances where each system is most appropriate. If you owned a business, would you be more inclined to use the perpetual system or the periodic system?

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