What are expenses like sales salaries expense, advertising expense, etc. called that are incurred directly in the selling of merchandise inventory? Group of answer choices administrative expenses other expenses selling expenses cost of goods sold

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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.