Manufacturing-sector companies report ________.
A) only merchandise inventory
B) only finished goods inventory
C) direct materials inventory, work-in-process inventory, and finished goods inventory accounts
D) direct materials inventory and finished goods inventory accounts only

Question

Quizplus · Accepted Answer

Manufacturing-sector companies need to track multiple stages of production, from raw materials to finished products. Therefore, they report direct materials inventory, work-in-process inventory, and finished goods inventory accounts on their financial statements.

Manufacturing-Sector Companies Report ________