Identify which inventory costing method LIFO or FIFO achieves the effect listed in the following items:
-Which one of the following would not be found as an asset on the balance sheet of a manufacturer?

Question

Quizplus · Accepted Answer

Merchandise inventory is typically found on the balance sheet of a retailer, not a manufacturer. Manufacturers list raw materials, work in process, and finished goods as assets.

Identify Which Inventory Costing Method LIFO or FIFO Achieves the Effect