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Net Income will be OverstatedRetained Income will be over stated.
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Accounting TreatmentBusinessTypes of CostsInventory CostRetail shoe storeShoes for saleXShoe boxesXAdvertising signsXGrocery storeCanned goods on the shelvesXProduceXCleaning suppliesXRecorded as an asset, and then a expense as you use it itCash registersXRecorded as an asset, and then then figure in depreciition.Frame shopWooden frame suppliesXNailsXGlassXWalk-in print shopPaperXCopy machinesXRecorded as an asset, and then then figure in depreciition.Toner cartridgesXRecorded as an asset, and then a expense as you use it it
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Net Income,highest net income,Retail Shoe Store,depreciition