The work-in-process inventory account records the costs of all products that have been started but are not yet complete.

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The work-in-process inventory account is a type of inventory account that records all the costs associated with products that have been started but are not yet completed. This could include raw materials, labor, and overhead costs. Once the products are completed, their costs are transferred to the finished goods inventory account.

The Work-In-Process Inventory Account Records the Costs of All Products