On the balance sheet of a publicly listed manufacturing company the current asset inventories would not include:
A)raw materials
B)finished goods available for sale
C)work-in-progress
D)cost of sales

Question

Quizplus · Accepted Answer

The cost of sales is not an inventory item, it is an expense item that represents the cost of producing and selling the goods. The other options (A, B, and C) are all inventory items that would be included in the current assets section of the balance sheet.

On the Balance Sheet of a Publicly Listed Manufacturing Company