Which of the following are basic inventories for a manufacturer?
A)indirect materials, goods in process, and raw materials
B)finished goods, raw materials, and direct materials
C)raw materials, goods in process, and finished goods
D)raw materials, factory overhead, and direct labour

Question

Quizplus · Accepted Answer

C) Raw materials, goods in process, and finished goods are the three basic types of inventories for a manufacturer. Raw materials are the inputs to production, goods in process are partially completed products, and finished goods are the completed products ready for sale.

Which of the Following Are Basic Inventories for a Manufacturer