Which of the following inventories would a discount retailer such as Wal-Mart report as an asset?
A) Raw materials.
B) Work in process.
C) Finished goods.
D) Merchandise inventory.
E) All of the other answers are correct.

Question

Quizplus · Accepted Answer

A discount retailer such as Wal-Mart would report merchandise inventory as an asset, which includes finished goods that are ready for sale to customers. Raw materials, work in process, and finished goods are typically inventory accounts used by manufacturers, while merchandise inventory is used by retailers.

Which of the Following Inventories Would a Discount Retailer Such