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 non-damaged goods.

Question

Quizplus · Accepted Answer

Merchandise inventory includes all goods owned by a company and held for sale. Goods in transit, on consignment, or damaged/non-damaged are not relevant to the definition of merchandise inventory.

Merchandise Inventory Includes