Disclosures about inventory should include each of the following except the
A) basis of accounting.
B) cost method.
C) quantity of inventory.
D) major inventory classifications.

Question

Quizplus · Accepted Answer

Disclosures about inventory should include the basis of accounting, cost method, and major inventory classifications. However, the quantity of inventory is not a required disclosure as it is already reported on the balance sheet as the ending inventory amount.

Disclosures About Inventory Should Include Each of the Following Except