Inventory NOT sold at the end of the period is reported as

Name: Inventory NOT sold at the end of the period is reported as
Brand: Quizplus
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Question

Quizplus · Accepted Answer

Inventory NOT sold at the end of the period is reported as merchandise inventory on the balance sheet. Cost of goods sold is the expense account that shows the cost of the products sold during the period. Old stock is not a recognized accounting term. Net purchases is the total purchases made during the period minus any returns or discounts.

Inventory NOT Sold at the End of the Period Is