Merchandise inventory:

Multiple Choice

Is a long$-$term asset.

Is a current asset.

Includes supplies the company will use in future periods.

Is classified with investments on the balance sheet.

Must be sold within one month.A company has net sales of $$382,200$ and its gross profit is $$160,700.$ Its cost of goods sold is:

Multiple Choice

$$200,200.$

$$382,200.$

$$160,700.$

$$221,500.$

$$542,900.$