Preparing year-end financial statements, Business Management

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Preparing year-end financial statements

Assignment:

Question 1. You own Widgets ‘R Us and are preparing your year-end financial statements.

What inventory system do you use and why? What are its advantages and disadvantages?
What activities should you perform to correctly account for your inventory at year-end?
Why is it important to track inventory? What does this information tell you about your business?

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Business Management: Preparing year-end financial statements

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Business Management: Preparing year-end financial statements

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