When a classified balance sheet is prepared, merchandise inventory is: Not reported as a current...
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When a classified balance sheet is prepared, merchandise inventory is: Not reported as a current asset because it is not sufficiently liquid. Usually listed after prepaid expenses according to its nearness to liquidity. Reported as a current asset. Usually reported before accounts receivable according to its nearness to liquidity. Reported as a current liability. WHAT IS THE ANSWER?
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