Which of the following accounts would you expect to find on the balance sheet of a manufacturing company?
A)finished goods inventory, raw materials inventory, and merchandise inventory
B)finished goods inventory, work-in-process inventory, and merchandise inventory
C)raw materials inventory, work-in-process inventory, and merchandise inventory
D)finished goods inventory, raw materials inventory, and work-in-process inventory
E)none of the above

Question

Quizplus · Accepted Answer

A manufacturing company produces goods and therefore would have inventory accounts on their balance sheet. The three types of inventories typically found in a manufacturing company are raw materials inventory (materials used to make the product), work-in-process inventory (partially completed products), and finished goods inventory (completed products ready for sale). Therefore, choice D is the correct answer as it includes all three types of inventories.

Which of the Following Accounts Would You Expect to Find