If a customer returns merchandise which has already been paid for,the retailer may give either a cash refund or a credit on account.
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Q12: A company using the periodic inventory system
Q13: The distinction between inventory and an operating
Q14: When inventory is sold by a wholesaler
Q15: The three distinct types of costs to
Q16: Like sales revenue,cost of goods sold represents
Q18: Purchases is the temporary account used in
Q19: Under the periodic inventory system,a physical inventory
Q20: Cost of goods sold is the difference
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