Which of the following accounts would appear in the current asset section of a merchandiser's balance sheet?
A) Direct materials inventory
B) Finished goods inventory
C) Merchandise inventory
D) Work in process inventory

Question

Quizplus · Accepted Answer

Merchandise inventory represents the goods a merchandiser has on hand ready to sell, which is a current asset. Choices A, B, and D refer to inventory accounts that would appear on the balance sheet of a manufacturer, not a merchandiser.

Which of the Following Accounts Would Appear in the Current