Regardless of how long it takes to produce and sell inventory, inventory is always considered to be a: Select one: a. Stockholder's equity O b. Current asset O c. Long-term asset d. Current liability Shrinkage is the term used for inventory losses that occur as a result of shoplifting or deterioration. Select one: True O False The series o transactions through which usiness generates its revenue and cash receipts is called Select one: a. Periodic inventory system O b. Perpetual inventory system c. Operating cycle d. nventory shrinage ABC Inc. buy bikes, tents and climing supplies from a wholesale company for sale to customers. What type of company is ABC Inc? Select one: a. Manuacturer a O b. Service c. Wholesaler c O d. Retailer