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11 Dec 2019
The following statements regarding merchandise inventory are true except:
a. Merchandise inventory is reported on the balance sheet as a current asset.
b. Merchandise inventory refers to products a company owns and intends to sell.
c. Merchandise inventory may include the costs of freight in and making them ready for sale.
d. Merchandise inventory appears on the balance sheet of a service company.
e. Purchasing merchandise inventory is part of the operating cycle for a business.
The following statements regarding merchandise inventory are true except:
a. Merchandise inventory is reported on the balance sheet as a current asset.
b. Merchandise inventory refers to products a company owns and intends to sell.
c. Merchandise inventory may include the costs of freight in and making them ready for sale.
d. Merchandise inventory appears on the balance sheet of a service company.
e. Purchasing merchandise inventory is part of the operating cycle for a business.
Tod ThielLv2
8 Apr 2020
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