Which one of the following would not be found in a merchandising company?
A)Beginning inventory.
B)Cost of goods sold.
C)Ending inventory.
D)Gross profit.
E)Work-in-process.

Question

Quizplus · Accepted Answer

Work-in-process is a term used in manufacturing companies to refer to partially completed goods that are still in the production process. In a merchandising company, the goods are purchased in a finished state and then resold to customers, therefore, there is no work-in-process inventory. Beginning inventory, cost of goods sold, ending inventory, and gross profit are all terms used in merchandising companies.

Which One of the Following Would Not Be Found in a Merchandising