Question
The ending inventory balance represents: a. expired costs and is reported on the income statement as an expense. b. unexpired costs and is reported on
The ending inventory balance represents:
| a. expired costs and is reported on the income statement as an expense. |
| b. | unexpired costs and is reported on the balance sheet as an asset. |
| c. expired costs and is reported on the balance sheet as an asset. |
| d. the cost of goods sold during the current period and is reported on the balance sheet as an asset Which choice (a,b,c, or d) is correct? |
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Accounting Principles
Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso
9th Edition
978-0470317549, 9780470387085, 047031754X, 470387084, 978-0470533475
