Goods that are still in the production process would be in which account?
A)Raw Materials Inventory
B)Work in Process Inventory
C)Finished Goods Inventory
D)Cost of Goods Sold

Question

Quizplus · Accepted Answer

Goods that are still in the production process but have not yet been completed would be in the Work in Process Inventory account. Raw Materials Inventory would contain materials that have been purchased but have not yet been used in production, while Finished Goods Inventory would contain completed products that are ready to be sold. Cost of Goods Sold is an expense account that reflects the cost of the goods that have been sold during a period of time.

Goods That Are Still in the Production Process Would Be