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    Principles of Financial Accounting Study Set 1
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    Exam 5: Accounting for Merchandising Operations
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    If a Company Determines Cost of Goods Sold Each Time
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If a Company Determines Cost of Goods Sold Each Time

Question 157

Question 157

Multiple Choice

If a company determines cost of goods sold each time a sale occurs, it


A) must have a computer accounting system.
B) must have a service business.
C) uses a periodic inventory system.
D) uses a perpetual inventory system.

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