A company that uses a cost accounting system normally has only two inventory accounts: Finished Goods Inventory and Work in Process Inventory.

Name: A company that uses a cost accounting system normally has only two inventory accounts: Finished Goods Inventory and Work in Process Inventory.
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A company that uses a cost accounting system may have multiple inventory accounts, including Raw Materials Inventory, Work in Process Inventory, and Finished Goods Inventory.

A Company That Uses a Cost Accounting System Normally Has