Wood Hub is a manufacturer of wooden furniture. The carpenters at the factory assemble four chiseled pillars of wood and join them to a refined but unpolished plank of wood to form a table. This piece of unfinished furniture is a(n) _____.

Question

Quizplus · Accepted Answer

The piece of furniture is still unfinished and undergoing the assembly process, making it a work-in-process inventory. Raw material inventory refers to the unprocessed materials used in production, while component parts inventory refers to already fabricated parts that will be used in assembly. Average aggregate inventory refers to the overall average of all types of inventory maintained by a company.

Wood Hub Is a Manufacturer of Wooden Furniture