As the accounting consultant for Wood Company, a merchandising company, you have been asked to assist management in determining the proper accounting for items related to merchandise inventory.?Required:For each of the following four items, determine whether or not each would be included in the cost of ending merchandise inventory.Sales commissionsIncluded? OR Not Included?Freight Out (Delivery expense)Included? OR Not Included?Cost of painting the warehouseIncluded? OR Not Included?Cost of inventory on handIncluded? OR Not Included?
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