Inventory consists of:
A)raw materials.
B)work in process.
C)finished goods.
D)all of the above.

Question

Quizplus · Accepted Answer

Inventory includes all three categories - raw materials, work in process, and finished goods. Raw materials are the basic materials that are used in the production process, work in process refers to partially completed goods that are still being worked on, and finished goods are the completed products that are ready to be sold to the end customers. Therefore, all three categories of inventory - raw materials, work in process, and finished goods - are included in inventory.

Inventory Consists Of