The Following Statements Regarding Merchandise Inventory Are True Except

The following statements regarding merchandise inventory are true except:

A) Merchandise inventory is reported on the balance sheet as a current asset.
B) Merchandise inventory refers to products a company owns and intends to sell.
C) Merchandise inventory can include the cost of shipping the goods to the store and making them ready for sale.
D) Merchandise inventory does not appear on the balance sheet of a service company.
E) Merchandise inventory purchases are not considered part of the operating cycle for a business.

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