A merchandiser buys and resells items, termedmerchandise. Wal-Mart is an example of a merchandiser. Revenue from the sales of merchandise is calledCost of Merchandise SoldFees EarnedSales. The expense associated with the sale of merchandise is calledCost of Merchandise SoldGross ProfitMerchandise Expense. The merchandise that is on hand at the end of an accounting period is calledAccounts ReceivableCost of Merchandise SoldMerchandise InventorySupplies.