In which financial statement is a line item for inventory found?
A) Balance sheet
B) Income statement
C) Cash flow statement
D) Statement of shareholder equity

Question

Quizplus · Accepted Answer

Inventory is found on the balance sheet as it is considered an asset. The balance sheet provides a snapshot of a company's assets, liabilities, and shareholders' equity at a specific point in time. Inventory represents goods that are either manufactured or purchased for sale in the ordinary course of business.

In Which Financial Statement Is a Line Item for Inventory