hannah3264 hannah3264

13-03-2019
Business

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What would be the normal balance (debit or credit) of inventories if the 2017 woolworths balance sheet says that the value of inventories in 2016 is $4558.5M and in 2017 is $4080.4M?

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MrsSeifried MrsSeifried

20-03-2019

The correct answer is a debit.

Even though the value of the inventories decreased from 2016 to 2017, inventories is an asset account. Normal asset accounts have a debit balance.

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