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Inventory of merchandise is a current asset?

Anonymous

∙ 16y ago

Updated: 9/16/2023

Yes, as inventories could be considered as current assets. But wil calcuating quick ratio or acid test ratio, inventories to be deducted from other current assets.

Wiki User

∙ 16y ago

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Merchandise inventory is classified on the balance sheet as a?

Current Asset

How is merchandise inventory classified on the balance sheet?

As a current asset

Is merchandise inventory considered an asset?

Yes merchandise inventory is asset for business which company maintain for sale purpose and to earn revenue.

What type of account is Merchandise Inventory?

Merchandise Inventory is an asset account that shows up on the balance sheet.

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.

Related Questions

Merchandise inventory is classified on the balance sheet as a?

Current Asset

How is merchandise inventory classified on the balance sheet?

As a current asset

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 type of account is Merchandise Inventory?

Merchandise Inventory is an asset account that shows up on the balance sheet.

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 Closing Inventory is it a current asset?

is closing inventory a current or non current asset

What is the normal balance of the merchandise inventory account?

Merchandise Inventory is an asset account, so the normal balance is Debit.

Is merchandise inventory an asset?

yes it an assetType your answer here...

Would A debit entry as an adjusting entry to Merchandise Inventory increase the balance?

Yes, a debit entry as an adjusting entry to Merchandise Inventory would increase the balance. In accounting, debiting an asset account like Merchandise Inventory reflects an increase in that asset. This adjustment is typically made to account for additional inventory that has been received or recognized, ensuring the financial records accurately reflect the current inventory levels.

Is inventory considered an asset?

Yes merchandise inventory is asset for business which company maintain for sale purpose and to earn revenue.

How is merchandise inventory normally presented on a balance sheet?

it is an asset

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