A merchandiser shows total current assets of $59,000 and the following additional information: How much Merchandise Inventory would be reported for the merchandiser?
A) $8,000
B) $23,000
C) $39,000
D) $44,000

Question

A merchandiser shows total current assets of $59,000 and the following additional information:  How much Merchandise Inventory would be reported for the merchandiser?
A) $8,000 
B) $23,000 
C) $39,000 
D) $44,000

Quizplus · Accepted Answer

Merchandise Inventory = Total Current Assets - Cash and Cash Equivalents - Accounts Receivable = $59,000 - $10,000 - $5,000 = $44,000.

A Merchandiser Shows Total Current Assets of $59,000 and the Following