What kind of account is merchandise inventory?

Answer Merchandise inventory accounts record the value of a merchandising company's inventory. This account is considered an asset as well as a current account. It is an estimate if the company uses the p... Read More »

Top Q&A For: What kind of account is merchandise inventory

Is merchandise inventory an asset?

The merchandise a business holds in inventory is an asset because it is likely to provide future economic benefit. Accounting and finance defines inventory as a current asset. This inventory repres... Read More »

How to Account for Stolen Inventory?

Retailers often employ special accounting treatments that aren't seen in other industries. Because inventory controls are so important to these companies, they have developed several methods for tr... Read More »

What kind of property is inventory?

By accounting definition, inventory consists of two different types of property; raw materials used for the manufacturing of goods that will be sold and finished products purchased by a business fo... Read More »

What kind of bank account can I use for PayPal?

PayPal is an online banking service that connects to your bank account for purchasing things online or receiving payment over the Internet. It works as an easy way to transfer money online to make ... Read More »