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3 years ago

Finished goods inventory is reported on the

Business

1 answer:

Brut [27]3 years ago

7 0

Answer:

Explanation:

Finished goods inventory are considered part of the assets of a company, and due to their short life span, are recognized as current assets. Thus, they are recognized on the balance sheet as current assets.

Option A is incorrect because finished goods inventory are short-term assets and are usually disposed off within a year. Option B is incorrect as only sold finished goods make up revenue, not those held as inventory. Option D is incorrect because finished goods inventory are not period cost. However, the cost of purchasing or manufacturing them are considered as cost.

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