A merchandising firm has ________ inventory account(s).A manufacturing firm has ________ inventory account(s).
A) one; three
B) three; one
C) two; three
D) three; three

Question

Quizplus · Accepted Answer

A merchandising firm typically only has one inventory account, as they purchase and resell finished goods. A manufacturing firm, on the other hand, may have three inventory accounts: raw materials inventory, work in progress inventory, and finished goods inventory.

A Merchandising Firm Has ________ Inventory Account(s)