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The primary source of revenue for a wholesaler is Question 8 Which of the following is a true statement about inventory systems? Question 9 Which of the following items does not result in an adjustment in the merchandise inventory account under a perpetual system? Question 10 Farwell Company purchased merchandise with an invoice price of $2,000 and credit terms of 1/10, n/30. Assuming a 360 day year, what is the implied annual interest rate inherent in the credit terms? Question 5 With the periodic inventory system, goods available for sale must be calculated before cost of goods sold. Question 6 Merchandising companies that sell to retailers are known as Question 7 The primary source of revenue for a wholesaler is Question 8 Which of the following is a true statement about inventory systems? Question 9 Which of the following items does not result in an adjustment in the merchandise inventory account under a perpetual system? Question 10

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