Which of the following represents the cost of materials purchased but not yet issued to production?

Question

Quizplus · Accepted Answer

Raw Materials Inventory represents the cost of materials purchased but not yet issued to production. Work in Process Inventory represents the cost of materials, labor, and overhead applied to products that are in the process of being manufactured. Finished Goods Inventory represents the cost of completed products that are ready for sale. Cost of Goods Sold represents the cost of goods that have been sold to customers.

Which of the Following Represents the Cost of Materials Purchased