Berkley Company Had Beginning Inventory of $4,000 and Purchases of $20,000.If

question 193

Multiple Choice

Berkley Company had beginning inventory of $4,000 and purchases of $20,000.If half of its inventory was sold,Berkley's goods available for sale will:

• A)be split between cost of goods sold and ending inventory.
• B)appear only as an expense on the income statement.
• C)appear only as an expense on the balance sheet.
• D)appear only as an asset on the income statement.

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Definitions:

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