" A company's gross margin reported on the income statement is not affected by the inventory cost flow method it uses." This statement is True.
Inventory refers to all of the items, items, merchandise, and substances held by using a business for promotion within the market to earn a profit. instance: If a newspaper seller makes use of a car to deliver newspapers to the clients, best the newspaper might be considered stock. The car will be treated as an asset. inventory is the goods and substances a business acquires, produces, or manufactures, for the motive of producing, selling, or replacing. additionally known as buying and selling inventory.
stock is the raw substances used to supply goods in addition to the products which might be available on the market. Its miles are categorized as a cutting-edge asset on an employer's stability sheet. The three types of stock consist of raw substances, work-in-development, and completed goods.
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