The beginning merchandise inventory plus cost of goods sold equals the cost of goods available for sale during the period. True or false?.

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16-09-2022
Business

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The beginning merchandise inventory plus cost of goods sold equals the cost of goods available for sale during the period. True or false?.

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qwdeepblue qwdeepblue · Answer 1 · 2022-09-20T07:34:01-04:00

The correct answer is false

The value of things in stock—whether they are finished products or raw materials that are prepared for sale—that are intended to be resold to consumers is referred to as merchandise inventory. Consider it as a holding account for stock that will shortly be sold. The most significant asset for ecommerce business owners is their inventory, which is recorded on the balance sheet of the company at the conclusion of each accounting period or fiscal year. Any items intended for resale, whether they are in route from the supplier, in the possession of the retailer, or housed in a warehouse or distribution center and waiting to be sold, are considered to be part of the merchandise inventory.

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