Under the retail inventory method, freight-in would be included in the calculation of the goods available for sale at retail price. ( )
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The outstanding checks are checks that have been issued by the company but not yet paid by the bank. ( )
Collection of an account receivable will increase an asset and decrease a liability. ( )
Goodwillis the intangible assets ( )
The gross margin method uses past experience as a basis. The retail inventory method uses current experience. ( )