Work in Process Inventory includes the cost of

Question

Quizplus · Accepted Answer

Work in Process Inventory includes the cost of goods which are only partially completed, meaning they are still in the process of being manufactured or assembled. The other options, such as all goods sold during the period or all goods which are completed and ready to sell, would be included in a different inventory account (such as Finished Goods Inventory). The cost of all materials purchased during the last period would be included in Raw Materials Inventory.

Work in Process Inventory Includes the Cost of