For a company making cheese,cheese that has been made but is curing before being ready to sell would be included in which of the following:
A)Raw materials inventory.
B)Work in progress inventory.
C)Finished goods inventory.
D)All of the above.

Question

Quizplus · Accepted Answer

Cheese that has been made but is still curing is not yet finished and ready to sell, therefore it would be considered a work in progress inventory. Raw materials inventory would refer to the initial ingredients used to create the cheese, and finished goods inventory would refer to cheese that is ready to be sold.

For a Company Making Cheese,cheese That Has Been Made but Is