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Date Posted: 14:04:42 10/13/04 Wed
Author: Laura Coles
Subject: Re: Some Accounting Questions and Answers

1.What security measures can be used by retailers to protect merchandise inventory from customer fraud?

2. What document should be presented by an employee requesting inventory items to be released from the company's warehouse?

3.What uses can be made of the estimate of the cost of inventory determined by the gross profit method?

4. Which of the three methods of inventory costing-FIFO-LIFO Or Average Cost will general yield an inventory cost most approximating current replacement cost?

5. Do the terms FIFO AND LIFO refer to techniques used in determing qualities of the various classes of merchandise on hand? explain

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