Merchandise inventory is Multiple Choice Reported on the balance sheet under plant and equipment Reported on the income statement as an expense Products a company owns for resale to customers Included on a service company's balance sheet Includes supplies

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Merchandise inventory is Multiple Choice Reported on the balance sheet under plant and equipment Reported on the income statement as an expense Products a company owns for resale to customers Included on a service company's balance sheet Includes supplies

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VidyaaTech2022id VidyaaTech2022id · Answer 1

Merchandise Inventory is the product that a company owns for reselling to the customers in the market.

Option C is the correct answer.

What is reselling?

Reselling is one of the activities applied by the production company in disposing of the goods more than one time in the consumer market.

When the goods are sold again by the sellers and the retailers to the customers, they it is treated as merchandise inventory. It has the same nature similar to the closing inventory being reported on the balance sheet of the company under the current assets.

Therefore, the explanation provided in Option C would describe the merchandise inventory.

Learn more about the balance sheet in the related link:

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