Merchandise on hand at either the beginning or end of the accounting period is called ........

Accountancy (Phase -I & II) Accounting standards

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Merchandise on hand at either the beginning or end of the accounting period is called

Raw material

Cost of goods sold

Work in progress

Inventory

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Explanation:

Merchandise on hand at either the beginning or end of the accounting period is called Inventory. Inventory is the array of finished goods or goods used in production held by a company. Inventory is classified as a current asset on a company's balance sheet, and it serves as a buffer between manufacturing and order fulfillment.