Difference between revisions of "Ending merchandise inventory"
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Revision as of 09:03, 20 December 2018
Ending merchandise inventory (ending inventory) is the cost of goods that remain unsold at the end of the accounting period. It is an asset on the new balance sheet.
Definitions
According to College Accounting: A Practical Approach by Slater (13th edition),
- Ending merchandise inventory (ending inventory). The cost of goods that remain unsold at the end of the accounting period. It is an asset on the new balance sheet.
Related concepts
- Accounting (alternatively known as accountancy) is management of financial data, information, and knowledge about financial transactions of legal entities. Accountancy tends to include bookkeeping and, depending on a particilar enterprise, may also include quatitative analysis of financial data in the bookkeeping system and/or business intelligence.
