merchandise inventory can be described as check all that apply

merchandise inventory can be described as check all that apply. Merchandise inventory refers to the goods a business holds for sale to customers. In accounting terms, merchandise inventory is classified as a current asset on the balance sheet because it represents goods that are expected to be sold or used up within a year. Merchandise inventory can be described in various ways, including as raw materials for production, finished goods ready for sale, or as part of the retail inventory in stores or warehouses. It can also include goods in transit that are expected to arrive at the store or warehouse for sale. The inventory can be categorized by type, such as clothing, electronics, or groceries, depending on the business. The key factor is that merchandise inventory represents products that a business will sell to generate revenue. Businesses must keep accurate records of their inventory to ensure proper financial reporting and to optimize their supply chain.