Which types of inventories does a manufacturing business report on the balance sheet?

Question

Quizplus · Accepted Answer

A manufacturing business typically reports on three types of inventories on the balance sheet: direct materials inventory (raw materials and supplies), work in process inventory (goods that are still in production but not yet finished), and finished goods inventory (completed and ready-for-sale products). Therefore, the best choice is option C, which includes all three types of inventories.

Which Types of Inventories Does a Manufacturing Business Report on the Balance