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Instead of Everyday Low Prices (EDLP),supermarkets Prefer a __________ Approach,which

question 124

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Instead of everyday low prices (EDLP) ,supermarkets prefer a __________ approach,which is based on frequent specials where prices are temporarily lowered for a brief period of time and then raised again.


Definitions:

Accounts Payable

Liabilities of a business that are owed to creditors for goods and services purchased on credit and are due within a short period, typically less than a year.

Perpetual Inventory System

Inventory accounting method that uses computerized point-of-sale and enterprise asset management software to immediately track sales or purchases of inventory.

Customer Refunds Payable

A liability account representing the amount of money owed to customers for the return of goods or dissatisfaction with services provided.

Credit To Inventory

An accounting entry that increases the total value of inventory held by a company, reflecting additions or corrections to stock.

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