Purchase Discounts Lost should be:
A)added to the Merchandise Inventory account to determine the cost of inventory on hand
B)considered a loss account to be reported on the income statement
C)included on the income statement as a financing expense for the period
D)part of the cost of goods sold

Question

Quizplus · Accepted Answer

The Answer of Purchase Discounts Lost should be:
A)added to the Merchandise Inventory account to determine the cost of inventory on hand
B)considered a loss account to be reported on the income statement
C)included on the income statement as a financing expense for the period
D)part of the cost of goods sold

Purchase Discounts Lost Should Be