If you were to open a merchandising company what kind of company would it be Why? Which inventory valuation system would you use LIFO FIFO or Specific ID. Why? Assume you have discovered either an understatement or overstatement of ending inventory. How would it impact your financial statements? What would you do to correct the error How would you communicate that error to others?

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If I am to open a merchandisebased business I will start with products that have a high ... View the full answer