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Is merchandise inventory is a long-term asset on the balance sheet true or false?
Wiki User
∙ 10y ago
False
Wiki User
∙ 10y ago
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What is the normal balance of the merchandise inventory account?
Merchandise Inventory is an asset account, so the normal balance is Debit.
What type of account is Merchandise Inventory?
Merchandise Inventory is an asset account that shows up on the balance sheet.
Merchandise inventory is classified on the balance sheet as a?
Current Asset
How is merchandise inventory normally presented on a balance sheet?
it is an asset
How is merchandise inventory classified on the balance sheet?
As a current asset
Merchandise inventory is reported as a long-term asset on the balance sheet?
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Merchandise inventory has a normal debit balance?
Mechandise inventory is a current asset which is used in manufacturing of units of products or resale purpose that's why it is asset of business and has debit balance as normal balance.
Is it truth Merchandise inventory is classified as a current asset in a classified balance sheet?
Yes merchandise inventor is usable within one fiscal year that's why it is current asset and shown as a current asset in balance sheet.
Is merchandise inventory considered an asset?
Yes merchandise inventory is asset for business which company maintain for sale purpose and to earn revenue.
What financial statement does merchandise inventory at end of period go on?
Closing merchandise inventory belongs on both the income statement and the balance sheet. On the income statement, it is included under Cost of Goods Sold; on the balance sheet it is categorised under Current Assets.
The Cost of Goods Sold account is classified as?
Expense on the income statement. The COI or Merchandise Inventory is reported on the balance sheet as an asset.
Is merchandise inventory an asset?
yes it an assetType your answer here...
