Which of the following would not be considered work-in-process inventory?
I. Finished goods in the stockroom.
II. Processed material waiting for inspection.
III. Raw materials not issued.
IV. Components in queue ahead of a milling machine.
A) I and II
B) I and III
C) I and IV
D) II and III

Question

Quizplus · Accepted Answer

Work-in-process inventory refers to materials that are in the process of being transformed into finished goods. I. Finished goods in the stockroom are no longer in process, thus not considered work-in-process. III. Raw materials not issued are still in their initial state and have not entered the production process, so they are not considered work-in-process either.

Which of the Following Would Not Be Considered Work-In-Process Inventory