Multiple Choice
Which of the following statements regarding inventory classifications is not true?
A) Inventory may include materials used in producing goods for sale.
B) Companies that are manufacturers list their finished goods,work-in-process and raw materials inventory separately.
C) Inventory is classified as a long-term asset on the balance sheet.
D) Merchandisers buy inventory in finished form ready for resale.
Correct Answer:
Verified
Correct Answer:
Verified
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