Question: Distinguishing Among Operating Cycles Identify the type of business as service (S), retail merchandiser (RM), wholesale merchandiser (WM), or manufacturer (M) for each of the following.
1. The company reports no inventory on its balance sheet.
2. The company's customers have been slow in paying their accounts because their own customers have been slow in paying.
3. Approximately one-third of the company's inventory requires further work before it will be ready for sale.