The Only Type of Inventory That Macy's, a Major U

question 203

Multiple Choice

The only type of inventory that Macy's, a major U.S. department store chain would report on its balance sheet is:

• A) merchandise inventory
• B) finished goods inventory
• C) direct materials inventory, work-in-process inventory, and finished goods inventory accounts
• D) no inventory accounts as Macy's is a service-sector company

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Definitions:

Labor Used

The amount of work effort, measured in time or productivity units, utilized in the production of goods or services.

Swivel Chairs

Office or household chairs designed with a base that allows the seat to rotate 360 degrees, enhancing mobility and comfort.

Fabricating Department

A part of manufacturing where raw materials are transformed into parts or products through processes like cutting, welding, and assembling.

Daily Basis

A period or measure referring to events or processes that occur or are calculated on a day-to-day basis.