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QuickBooks 2010 Solutions Guide for Business Owners and Accountants by Laura Madeira

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Chapter 10. Reviewing Inventory

Overview of the Accounting for Inventory

Inventory can be described as a company’s merchandise, raw materials, and finished and unfinished products that have not yet been sold.

QuickBooks can track the products you purchase, stock, and then later sell to customers. QuickBooks can also track the products that you assemble (component) and use to create a product for sale (finished good).

QuickBooks has a perpetual inventory system, meaning that each ...

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