inventory is classified on the balance sheet as a\na. long - term asset\nb. current asset\nc. long - term…

Brief Explanations:

Inventory is expected to be sold or used up within one year or the operating cycle, which is the definition of a current asset. It is not a liability (long - term or current) as the company has an economic resource in inventory, not an obligation. It is also not a long - term asset as it is part of the normal operating cycle of the business and is meant to be converted to cash or used in the production process in the short - term.

Answer:

B. current asset