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What are the two varieties of basaltic lava flows?
Merchandise Inventory
Goods that a retail or wholesale company intends to sell to customers. The inventory account is adjusted based on purchases and sales.
Purchases Returns
Goods returned to the supplier from the buyer due to defects, inaccuracies in orders, or other reasons.
Sales Returns
Transactions where customers return previously purchased merchandise to the seller, resulting in a deduction from gross sales to arrive at net sales.
Purchases Returns
Goods returned by a buyer to the seller, often due to defects or dissatisfaction, resulting in a refund or credit.
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