Which of the following represents the correct order in which inventories are reported on a manufacturer's balance sheet?
A)raw materials, work in process, finished goods
B)work in process, finished goods raw materials
C)finished goods, work in process, raw materials
D)work in process, raw materials, finished goods

Question

Quizplus · Accepted Answer

The correct order for reporting inventories on a manufacturer's balance sheet is raw materials first, then work in process, and finally finished goods. This order represents the stages of production, with raw materials being the initial stage, work in process representing the middle stage, and finished goods being the final product ready for sale.

Which of the Following Represents the Correct Order in Which