Match each of the following inventory classifications with its definition. Inventory Classifications 1. _______________Raw materials 2. _______________Work-in-process
Question:
Inventory Classifications
1. _______________Raw materials
2. _______________Work-in-process
3. _______________Finished goods
Definitions
a. Cost of items not yet complete by the end of the period.
b. Inventory that has been substantially completed.
c. Basic components used to build a product.
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Related Book For
Financial Accounting
ISBN: 978-0078025549
3rd edition
Authors: J. David Spiceland, Wayne Thomas, Don Herrmann
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