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Which of the following accounts would be included in the chart of accounts of a merchandising company using the (a)periodic inventory system,(b)perpetual inventory system,or (c)both systems?
(1)Purchases
(2)Inventory
(3)Sales
(4)Purchases Discounts
(5)Cost of Goods Sold
(6)Freight In
(7)Delivery Expense
Logistics Department
A division within a company that is responsible for overseeing the flow of goods and materials from suppliers to the end customer, including storage and transportation.
Operating Divisions
Separate segments or areas of a business that perform operations or services distinct from the company's primary business.
Variable Costs
Expenses that directly fluctuate with the amount of goods produced or the extent of services offered.
Fixed Costs
Costs that remain constant regardless of production or sales volume, like lease payments and wages.
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