Goods that are produced by a manufacturing company and are ready to sell are recorded in the ________ account.
A) Raw Materials Inventory
B) Work-in-Process Inventory
C) Manufacturing Overhead
D) Finished Goods Inventory

Question

Quizplus · Accepted Answer

Finished Goods Inventory is the account where goods that have been produced and are ready to sell are recorded. Raw Materials Inventory is the account where the materials that will be used in production are recorded, Work-in-Process Inventory is the account where partially completed products are recorded, and Manufacturing Overhead is the account where indirect manufacturing costs are recorded.

Goods That Are Produced by a Manufacturing Company and Are