Question: ANSWER What is the difference between a merchandiser's financial statements under the periodic inventory system compared to a perpetual inventory system? The inventory amount is

ANSWER
What is the difference between a merchandiser's financial statements under the periodic inventory system compared to a perpetual inventory system?
The inventory amount is a calculation under the perpetual inventory system.
The periodic format subtotals gross margin and income from operations while the perpetual format does not.
The periodic format has only two sections-one for revenues and the other for expenses.
The cost of goods sold amount is a calculation under the periodic inventory system.
ANSWER What is the difference between a

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