You would expect to see the account Work-in-Progress Inventory reported on the balance sheet of a: Manufacturing firm Merchandising firm
A) YesNo
B) No No
C) YesYes
D) No Yes

Question

Quizplus · Accepted Answer

Work-in-progress inventory is an inventory of goods that are in the process of being manufactured or produced. Therefore, it would only be reported on the balance sheet of a manufacturing firm that is producing goods. A merchandising firm simply buys and sells finished goods, so they would not have work-in-progress inventory.

You Would Expect to See the Account Work-In-Progress Inventory Reported