Asked by
Dylan Baird
on Dec 17, 2024Verified
Which of the following should be included in inventory costs?
A) Goods that are not resalable
B) Goods on consignment to you
C) Goods for sale at a value that is greater than cost
D) Both A and B are correct.
Inventory Costs
Inventory Costs include all expenses related to acquiring, storing, and managing inventory, including purchase price, warehousing, and logistics.
Goods On Consignment
Items that are held by a seller but still owned by the supplier until sold, at which point the supplier receives payment minus a commission.
Resalable
Resalable refers to goods or products that can be sold again, either in their original condition or after being refurbished or repurposed.
- Identify items that should or should not be included in merchandise inventory.
Verified Answer
AS
Learning Objectives
- Identify items that should or should not be included in merchandise inventory.