In a process costing system,when raw material is received in which of the following balance sheet accounts is it recorded?

Question

Quizplus · Accepted Answer

When raw materials are received, they are typically recorded in the raw materials inventory account on the balance sheet. This account reflects the amount of raw materials on hand that have not yet been used in the production process. As the raw materials are used in production, they are transferred to the work in process inventory account.

In a Process Costing System,when Raw Material Is Received in Which