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Home Q & A Board Other Fields Homework Help Business Accounting
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H3Ko H3Ko
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8 years ago
When preparing the worksheet for a merchandising business using the perpetual inventory system, which of the following statements is incorrect?
A) The main new account is the Merchandise Inventory account.
B) The merchandiser's worksheet carries the account Cost of Goods Sold.
C) The Merchandise Inventory account must be adjusted based on a physical count due to inventory shrinkage.
D) The worksheet procedures are not similar to the worksheet procedures for a service company.
Textbook 
Horngren's Financial & Managerial Accounting, The Financial Chapters

Horngren's Financial & Managerial Accounting, The Financial Chapters


Edition: 5th
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TanksTanks
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8 years ago
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H3Ko Author
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#2
8 years ago
Really appreciate your help. Sorry for taking so long to thank you, you deserve the recognition.
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#3
4 years ago
ty
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