The Merchandise Inventory account balance at the beginning of the current period is equal to the amount of ending Merchandise Inventory from the previous period.

Name: The Merchandise Inventory account balance at the beginning of the current period is equal to the amount of ending Merchandise Inventory from the previous period.
Brand: Quizplus
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Question

Quizplus · Accepted Answer

This statement is true. The ending balance of the Merchandise Inventory account from the previous period becomes the beginning balance for the current period.

The Merchandise Inventory Account Balance at the Beginning of the Current