For a company making cheese,milk and cream would be included in which the following type of inventory?
A)Raw materials inventory.
B)Work in progress inventory.
C)Finished goods inventory.
D)All of the above.

Question

Quizplus · Accepted Answer

Milk and cream are considered raw materials for the production of cheese. Raw materials inventory includes items that will be used in the production process, but have not yet been transformed into final products. Work in progress inventory includes items that are in the process of being transformed into final products, and finished goods inventory includes final products that are ready to be sold.

For a Company Making Cheese,milk and Cream Would Be Included