Which of the following is not classified as inventory?
A)Raw materials
B)Work in process
C)Consumer goods
D)Materials used or consumed in a business

Question

Quizplus · Accepted Answer

Inventory consists of goods held for sale or lease or to be used under contracts of service,as well as raw materials,work in process,or materials used or consumed in a business [9-102(a) (48)].Consumer goods are goods used or bought primarily for personal,family,or household use,such as automobiles,furniture,and appliances [9-102(a)[23)].

Which of the Following Is Not Classified as Inventory