Where, if at all, should the following items be classified on a balance sheet?
(a) Goods out on approval to customers.
(b) Goods in transit that were recently purchased f.o.b. destination.
(c) Land held by a realty firm for sale.
(d) Raw materials.
(e) Goods received on consignment.
(f) Manufacturing supplies.
(a) Inventory.
(b)
Not shown, possibly in a note to the financial statements if material.
(c) Inventory.
(d) Inventory, separately disclosed as raw materials.
(e)
Not shown, possibly a note to the financial statements.
(f) Inventory or manufacturing supplies.
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