Merchandise inventory:（ ）。
A: neither is the cost of inventory that has been sold or is an expense on the income statement
B: both is the cost of inventory that has been sold and is an expense on the income statement
C: is an expense on the income statement
D: is the cost of inventory that has been sold
A: neither is the cost of inventory that has been sold or is an expense on the income statement
B: both is the cost of inventory that has been sold and is an expense on the income statement
C: is an expense on the income statement
D: is the cost of inventory that has been sold
举一反三
- ___________ is the average number of times the inventory is sold per year. A: a. Inventory storage B: b. Cost of goods sold C: c. Cost of goods available for sale D: d. Inventory turnover
- Inventory turnover can be<br/>calculated by: () A: adding beginning and ending<br/>inventory; divide by two B: dividing the cost of goods<br/>sold by average inventory C: dividing average inventory<br/>by the cost of goods sold D: multiplying average<br/>inventory by 1.5
- Cost of goods sold will appear on which financial statement? A: statement of retained earnings B: balance sheet C: statement of cash flows D: income statement
- The difference between Cost of Goods Sold and Cost of Goods Available for Sale is: A: Beginning Inventory B: Ending Inventory C: Net Sales D: Net Purchases
- Budgeted purchases =beginning inventory + cost of goods sold – desired ending inventory.