Consider a roll of sheet steel. This represents ________ inventory to a farm-machinery manufacturer and ________ inventory in a steel mill.

Question

Quizplus · Accepted Answer

For a farm-machinery manufacturer, a roll of sheet steel is a raw material because it is the basic input required to manufacture their products. For a steel mill, the roll of sheet steel represents finished goods, as it is the final product that the steel mill produces and sells.

Consider a Roll of Sheet Steel