Which of the following statements regarding inventory is true?
A)Wholesalers and retailers incur a single type of cost,the purchase price,of the inventory they sell.
B)It is not unusual for inventories to account for half the total assets of a manufacturer.
C)Wholesalers and retailers buy merchandise and transform the product before offering it to resale to customers.
D)The inventory of a manufacturer takes three distinct forms-direct materials,direct labor,and finished goods.

Question

Quizplus · Accepted Answer

The Answer of Which of the following statements regarding inventory is true?
A)Wholesalers and retailers incur a single type of cost,the purchase price,of the inventory they sell.
B)It is not unusual for inventories to account for half the total assets of a manufacturer.
C)Wholesalers and retailers buy merchandise and transform the product before offering it to resale to customers.
D)The inventory of a manufacturer takes three distinct forms-direct materials,direct labor,and finished goods.

Which of the Following Statements Regarding Inventory Is True