Which of the following reflects Finished Goods Inventory?

Question

Quizplus · Accepted Answer

Finished Goods Inventory refers to the completed products that are ready for sale, therefore completed job-order cost sheets represent the correct option as they would record the cost of finished goods. Raw Materials Inventory refers to the materials purchased to produce goods, while Work-in-Process Inventory refers to goods that are in the process of being manufactured. Incomplete job-order cost sheets would not reflect any completed goods.

Which of the Following Reflects Finished Goods Inventory