Where Do Inventory and Cost of Goods Sold Appear

question 161

Multiple Choice

Where do Inventory and Cost of goods sold appear?

• A) On the balance sheet and statement of owner's equity, respectively
• B) On the statement of owner's equity and income statement, respectively
• C) On the balance sheet and income statement, respectively
• D) On the income statement and statement of cash flows, respectively

---

Definitions:

Natural Selection

The process by which organisms better adapted to their environment tend to survive and produce more offspring, driving evolutionary change.

Organisms

Organisms are individual living entities that can react to stimuli, reproduce, grow, and maintain homeostasis.

Environment

A rephrased definition: The composite of physical, biological, and chemical factors that constitute the surrounding of a particular organism or group of organisms.

Inherited Traits

Characteristics or attributes genetically passed from parents to offspring through their genes.