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MGA 201- Midterm Review {LATEST update} QUESTIONS AND ANSWERS 100% CORRECT

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MGA 201- Midterm Review {LATEST update} QUESTIONS AND ANSWERS 100% CORRECT

Institution
MGA 201
Course
MGA 201

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MGA 201- Midterm Review {LATEST 2026 -
2027 update} QUESTIONS AND ANSWERS
100% CORRECT



Preliminary Net Income Equation - correct answer Revenues-Expenses




Gross Profit Percentage - correct answer (Gross Profit/net sales) *100




Shrinkage - correct answer EI (reported) - EI (Physical Count)




Periodic Inventory System - correct answer BI + P - EI = CGS




Perpetual Inventory System - correct answer BI + P - CGS = EI




Gross Profit - correct answer Sales Revenue - Cost of Goods Sold
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MGA 201
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February 13, 2026
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