The work in process inventory account summarizes the schedule of cost of goods manufactured.

Name: The work in process inventory account summarizes the schedule of cost of goods manufactured.
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The schedule of cost of goods manufactured is a summary of the costs incurred in the production of goods during a period. The work in process inventory account is used to accumulate these costs until the goods are finished and transferred to finished goods inventory.

The Work in Process Inventory Account Summarizes the Schedule of Cost