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In the figure, Joel is using a device known as a periscope to observe an object, represented by an upright arrow.The periscope contains two plane mirrors tilted at an angle of 45° relative to Joel's line of sight.Which one of the following pairs of characteristics of the final image that Joel looks at is correct relative to those of the object?
Periodic Inventory System
An inventory accounting system where updates to the inventory accounts are made on a periodic basis, rather than continuously.
Merchandise Inventory
Items that a company holds for the purpose of resale to customers in the ordinary course of business.
Gross Method
An accounting approach for recording purchases at the invoice price without deduction of any cash discounts offered.
Perpetual Inventory System
A strategy for managing inventory accounting that utilizes computerized point-of-sale systems and enterprise asset management software to immediately document sales or purchases.
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