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  3. o as merchandise inventory is sold, its cost is re

O As merchandise inventory is sold, its cost is reported as cost of goods sold...

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Accounting

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O As merchandise inventory is sold, its cost is reported as cost of goods sold in an income statement. O Cost of Goods Sold is often the largest expense for a merchandiser O One period's ending merchandise inventory becomes the next period's beginning merchandise inventory. O Ending merchandise inventory is reported in the balance sheet as a current asset D Question 14 1 pts How would interest expense be reported in a multiple-step income statement? O None of the above O As other revenue O As a general and administrative expense O As a selling expense O As other expense

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