A1001 - Backpacks Opening 1,750.00 140 Balance (6,565.00) (1,625.00) -130 38.00 Movement 125.00 10 Closing Balance A1003 - Hats Opening 1,050.00 100 Balance 29.50 Movement (2,000.00) (525.00) -50 50 Closing 525.00 Balance C1001 - Tops 90 Opening 1,800.00 Balance (900.00) (600.00) -30 20.00 Movement Closing 1,200.00 60 Balance C1004 - Jumper 65 Opening 1,430.00 Balance Movement (660.00) (440.00) -20 11.00 Closing 990.00 45 Balance 1 Setup Guide (10,125.00) (3,190.00) -230 98.50 

Inventory Item Summary 1532494-B&M For the period 1 September 2023 to 30 September 2023 Item Code Tracked C1003 C1002 A1002 A1003 C1001 A1001 (31004 Total Tracked Total ltem Name Shorts Pants Sunglasses Hats Tops Backpacks Jumper Opening Balance 1,980.00 2,400.00 525.00 1,200.00 125.00 990.00 T,220.00 T,220.00 Purchases COGS Adjustments ll] Reorder columns Closing Balance 1,980.00 2,400.00 525.00 1,200.00 125.00 000.00 7,220.00 7,220.00 Sales 

This is my inventory item detail and inventory item summary in Xero software can you please Explain the main advantages of using an Accounting Information System such as "Xero" for a start-up business such as "B&M".

1. 1. Interpret the relative performance for each of their product lines as well as comment on the profitability, liquidity and financial stability of B&M. 

Answer rating: 100% (QA)

Using an Accounting Information System like Xero can provide several advantages for a startup busine... View the full answer