In what ways does having merchandise inventory impact faithful representation and classification?View Solution: In what ways does having merchandise inventory impact faithful representation

Q: Explain the statement of cash flow in detail.

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A: a.  

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A: Answer: 

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Inventory Valuation

Before discussing the topic inventory valuation let’s discuss the meaning of inventory. In accounting, inventory is also known as stock. Inventory means all the finished goods, materials, merchandise that a business holds for the purpose of selling it in the market with the motive of earning profit.