Farm_Inventory_and_Accounting_Methods_2021
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Most businesses use either the cash method or the accrual method of accounting. Generally, if a business produces, purchases, or sells merchandise, it must keep an inventory and use the accrual method for sales and purchases. However, the accrual method for a business with inventory is not always required and it can use the cash method of accounting, even if it has inventory.
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Farm_Inventory_and_Accounting_Methods_2021
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