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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 $408…

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 $408…
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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?​

User Pupadupa
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1 Answer

3 votes

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.

User Ravi Singh
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