Question: select the statement below that correctly, describes the flow of costs in a merchandiser accounting cycle. Merchandise that his purchase becomes an acid reported on

select the statement below that correctly, describes the flow of costs in a merchandiser accounting cycle. Merchandise that his purchase becomes an acid reported on the balance sheet. Merchandise said, a soul becomes an expense reported on the income statement. Merchandise that is sold becomes an asset reported on the ball. Beginning inventory plus net purchases equals merchandise available for sale. Ending inventory plus cost of good sold equals total merchandise available for sale. merchandise purchased is an expense and is reported on the income statement.

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