A merchandising firm has _____ inventory account(s)

Business Feb 02, 2021

A merchandising firm has _____ inventory account(s). A manufacturing firm has _____ inventory account(s).

a. three; one

b. one; three

c. two; thee

d. three; three

Expert Solution

Answer choice: b. one; three

Explanation:

A merchandising firm has one inventory account which is the merchandising inventory account. A manufacturing firm has three inventory accounts which include the raw materials inventory, work in process inventory, and finished goods inventory.

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