For the manufacturing business, inventory which is in the process of being manufactured is referred to as:

Question

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Work in process inventory refers to inventory that is in the process of being manufactured. This includes partially completed products that are awaiting additional work or materials. Supplies inventory refers to raw materials and other supplies needed for manufacturing, while finished goods inventory is the inventory of completed products ready for sale. Direct materials inventory refers specifically to the inventory of raw materials needed for production.

For the Manufacturing Business, Inventory Which Is in the Process