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Complete the following statement. Merchandise inventory that i s still available for sale i s considered a ( n ) B l a n k

Complete the following statement. Merchandise inventory that is still available for sale is considered a(n)Blank????????(assetexpenserevenue) and is reported on the Blank????????(balance sheetincome statement) and merchandise that is sold during the period is considered a(n)Blank????????(assetexpenseliability) and reported on the Blank????????(balance sheetincome statement).

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