Q251
Stock of a Trading concern consists of
A.
Raw material
B.
Work in progress
C.
Merchandise inventory
AnswerD.
All of the above
Answer: Option C
Solution
Answer: Option C
Solution:
Stock of a Trading concern consists of Merchandise inventory. Merchandise inventory is the cost of goods on hand and available for sale at any given time. Merchandise inventory (also called Inventory) is a current asset with a normal debit balance meaning a debit will increase and a credit will decrease.