The income statement of a retailer would include which of the following?
A)Cost of goods sold
B)Value of inventory
C)Accounts payable
D)Accounts receivable

Question

Quizplus · Accepted Answer

The income statement of a retailer would include Cost of Goods Sold (COGS) which is the cost of inventory sold during a given period of time. The value of inventory is typically reported on the balance sheet, not the income statement. Accounts payable and accounts receivable are also typically reported on the balance sheet.

The Income Statement of a Retailer Would Include Which of the Following