Raw materials,work in process and finished goods are the three types of inventory held by which of the following types of companies?
A)Manufacturers
B)Retailers
C)Wholesalers
D)Service companies

Question

Quizplus · Accepted Answer

Manufacturers hold raw materials to be used in production, work in process as the materials are turned into finished products, and finished goods ready for sale. Retailers, wholesalers, and service companies generally only hold finished goods inventory.

Raw Materials,work in Process and Finished Goods Are the Three