Firms employ the following types of inventories:

Name: Firms employ the following types of inventories:
Brand: Quizplus
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Question

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All of the options listed (raw material, work in process, and finished goods) are types of inventories that firms employ. Raw materials refer to the basic materials used to produce a product, work in process refers to products that are in the middle of production, and finished goods refer to products that are ready to be sold to customers.

Firms Employ the Following Types of Inventories