What is a work-in-process inventory file?

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A work-in-process inventory file typically consists of electronic job-order cost sheets that list the direct materials, direct labor, and manufacturing overhead costs associated with each job or product being produced. This helps companies track the cost of producing each item and facilitates accurate financial reporting. Work tickets and material tickets are more likely to be physical documents stored in file cabinets rather than electronic files.

What Is a Work-In-Process Inventory File