The Merchandise Inventory account on a classified balance sheet is reported in the: Multiple choice question. current assets section plant assets section long-term investments section intangible assets section

Current Assets section

Explanation:

Merchandise inventory is a current account because it is expected that the inventory will be sold off during the period and won't go into the other period. It will therefore be placed in the current assets section.

As a current asset, when new inventory is purchased, the merchandise inventory account id debited to show that it has increased and when inventory is sold, the account is credited to show its decrease.

lbc corporation makes and sells a product called product wz. each unit of product wz requires 4.1 hours of direct labor at the rate of $20.00 per direct labor-hour. management would like you to prepare a direct labor budget for june. the company plans to sell 28,000 units of product wz in june. the finished goods inventories o

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