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Christine Mendooza
on Oct 16, 2024

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Costs included in the Merchandise Inventory account can include all of the following except:

A) Invoice price minus any discount.
B) Transportation-in.
C) Storage.
D) Insurance.
E) Damaged inventory that cannot be sold.

Merchandise Inventory

Goods that a company buys to resell at a profit. It is a current asset on the balance sheet.

Transportation-In

Costs associated with bringing inventory items to a company's location, which are added to the cost of inventory.

Invoice Price

The invoice price is the original price that a manufacturer suggests for the sale of a product or service before any discounts or allowances are applied.

  • Ascertain the constituents and charges encompassed and not encompassed within the Merchandise Inventory account.
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Allison Au-YeungOct 21, 2024
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