Multiple Choice
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.
Correct Answer:
Verified
Correct Answer:
Verified
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