Which of the following inventories carried by a manufacturer is similar to the merchandise inventory of a retailer?
A) Raw materials.
B) Work-in-process.
C) Finished goods.
D) Supplies.

Question

Quizplus · Accepted Answer

Finished goods inventory is the inventory of completed products that are ready to be sold, similar to the merchandise inventory of a retailer. Raw materials are the inventory of materials that have not yet been used in production, work-in-process inventory is the inventory of partially completed products, and supplies inventory is the inventory of items used in production, such as office supplies or maintenance materials.

Which of the Following Inventories Carried by a Manufacturer Is