Identify the accounts that are added to or deducted from purchases to determine the cost of goods

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Identify the accounts that are added to or deducted from purchases to determine the cost of goods purchased under a periodic system. For each account, indicate
(a) Whether it is added or deducted, and
(b) Its normal balance.

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Financial Accounting Tools for business decision making

ISBN: 978-0470534779

6th Edition

Authors: Paul D. Kimmel, Jerry J. Weygandt, Donald E. Kieso

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Question Posted: Sep 22, 2011 11:11 AM

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Identify the accounts that are added to or deducted from purchases to determine the cost of goods

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Financial Accounting Tools for business decision making

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