Match the inventory-related accounts to costs that may be included in inventories for retailers and manufacturers.
-Cost of materials which are not yet entered into the production process.
A)Merchandise Inventory
B)Raw Materials
C)Work in Process
D)Finished Goods
E)Cost of Goods Sold

Question

Quizplus · Accepted Answer

Raw materials are materials that have been purchased by a manufacturer but have not yet been put into the production process. They are considered part of inventories.

Match the Inventory-Related Accounts to Costs That May Be Included