(Answered) Question 1 why do successful businesses need an effective

Accounting

Question: 1. Why do successful businesses need an effective inventory system?

2. Identify four reasons why a merchandise inventory that is larger than needed may decrease the net income of a business.

3. When are periodic inventories normally taken?

4. How do inventory levels affect the period a business selects for its fiscal year? Why?

5. How is the accuracy of a perpetual inventory checked?

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