_____ reflects inventory that is being assembled or manufactured from its raw state into finished goods for sales.
A)Work-in-process inventory
B)Finished goods inventory
C)Perpetual inventory
D)Raw materials inventory

Question

​_____ reflects inventory that is being assembled or manufactured from its raw state into finished goods for sales.
A)Work-in-process inventory
B)​Finished goods inventory
C)​Perpetual inventory
D)Raw materials inventory

Quizplus · Accepted Answer

Work-in-process inventory, also known as progress inventory, refers to inventory that is in the process of being transformed from raw materials into finished goods. This inventory reflects the cost of direct materials, direct labor, and manufacturing overhead applied to partially completed units.

​_____ Reflects Inventory That Is Being Assembled or Manufactured from Its

_____ Reflects Inventory That Is Being Assembled or Manufactured from Its