QUESTION 7 A company's final cost of acquiring merchandise inventory was $219,500 Due to phenomenal demand the market value of its inventory increased to $221,700 This company should record the inventory gain in the period incurred and report the asset at the current market value True False QUESTION 8 If the business were to purchase all of the stock in a supplier's company for cash the cash outflow to buy the stock would be considered a financing activity on the statement of cash flows. True False QUESTION 9 All questions with Pardon Company have the same exact facts lantilla Click Save and Submit to see and submit. Click Save All Answers to save all answers. Dan Save All