How would Chevrolet classify its partially completed vehicles?
A)Finished goods inventory
B)Raw materials inventory
C)Work in process inventory
D)Supplies inventory

Question

Quizplus · Accepted Answer

Partially completed vehicles would be considered as work in process inventory, as they are not yet finished goods, but are in the process of being transformed into finished goods. Raw materials inventory would consist of the materials used to create the vehicles, while supplies inventory would consist of items such as office supplies and maintenance materials.

How Would Chevrolet Classify Its Partially Completed Vehicles