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History for Accrued Inventory (history as of 12/20/2013 16:58:46)

Accrued Inventory functions as a temporary account in order to establish a liability for the physical inventory received when a vendor invoice has not yet arrived. The calculation is determined by: 1) estimating the current inventory 2) subtracting the costs of the average inventory and goods sold from the cost of the original inventory.

  

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