Only companies who use a periodic method of inventory need to have an annual physical inventory count.
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Q2: Goods out on consignment should be included
Q9: All companies need to count their inventory
Q10: Only smaller companies need to do an
Q12: The first-in, first-out (FIFO) cost formula assumes
Q13: Goods that have been purchased FOB shipping
Q15: Companies are allowed to use the specific
Q16: Determining ownership of goods is one of
Q17: The counting of the inventory should be
Q18: The FIFO and average cost formula can
Q19: Goods that have been purchased FOB destination
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