$12.$ The following statements regarding inventory are true except?

A$.$ Inventory is reported on the Statement of Financial position as a current asset.

B$.$ Inventory refers to the products a company owns and intends to sell.

C Inventory can include the costs of shipping goods the to the warehouse and making them

ready for sale

D$.$ Inventory does not appear on the Statement of Financial position of a service company.

E$.$ Inventory purchased is subject to cost principles.