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Homework answers / question archive / Merchandise inventory includes: All goods owned by a company and held for sale All goods in transit All goods on consignment Only damaged goods Only items that are on the shelf  

Merchandise inventory includes: All goods owned by a company and held for sale All goods in transit All goods on consignment Only damaged goods Only items that are on the shelf  

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Merchandise inventory includes:

  1. All goods owned by a company and held for sale
  2. All goods in transit
  3. All goods on consignment
  4. Only damaged goods
  5. Only items that are on the shelf

 

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Answer: a . All goods owned by a company and held for sale

Merchandise Inventory includes all the goods owned by a company and held for sale, is a current asset with a normal debit balance meaning a debit will increase, and a credit will decrease. All other options are incorrect. Hence, Option A is correct.

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