Inventory is reported as a(n)______ on the:
A) current asset; balance sheet only
B) current asset; balance sheet and income statement
C) expense; income statement
D) expense; balance sheet

Question

Quizplus · Accepted Answer

Inventory is reported as a current asset on the balance sheet only. It is not reported as an expense as it represents goods or products that a company intends to sell and generate revenue from.

Inventory Is Reported as A(n)______ on The