Merchandise inventory includes:
A)All goods owned by a company and held for sale.
B)All goods in transit.
C)All goods on consignment.
D)Only damaged goods.
E)Only items that are on the shelf.

Question

Quizplus · Accepted Answer

Merchandise inventory includes all goods owned by a company and held for sale, regardless of their location (in warehouse, in store, or on the way to the store). It does not include goods on consignment, damaged goods, or only items that are on the shelf.

Merchandise Inventory Includes