Inventory consisting of the basic inputs to the organisation's production process is called __________ inventory.
A) finished goods
B) work-in-progress
C) raw material
D) possessed
E) nonphysical

Question

Quizplus · Accepted Answer

Raw material inventory consists of the basic inputs to the organization's production process, such as materials, parts, and components used to make the final product. Finished goods inventory refers to completed products that are ready for sale, while work-in-progress inventory refers to products that have been partially completed but are not yet finished. Possessed and non-physical inventories are not common inventory categories.

Inventory Consisting of the Basic Inputs to the Organisation's Production