Inventory Ethics Jason Tierro An Inventory Clerk At Lexmar Company Is Responsibl

  1. What is your opinion of Jason’s reasoning? Why?
  2. If Jason underestimates the dollar amount of ending inventory, what effect will it have on net income for the current accounting period?
  3. Since the perpetual inventory system maintains an up-to-date balance in the general ledger account for Merchandise Inventory, is a physical inventory count still necessary? Why?

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