Firms that offer services cannot have work-in-process inventories.

Name: Firms that offer services cannot have work-in-process inventories.
Brand: Quizplus
Rating: 4.9 (38 reviews)

Question

Quizplus · Accepted Answer

Firms offering services can have work-in-process inventory, which refers to the services that are currently being provided but not yet completed. For example, a salon may have customers waiting to receive services or a healthcare provider may have patients in the middle of a treatment. These incomplete services represent work-in-process inventory for the firm.

Firms That Offer Services Cannot Have Work-In-Process Inventories