C&L Coach buys luxury cars from manufacturers and then "saws them in half" and adds a number of components to upgrade and stretch them into exotic limousines. Examine the following items and decide if each should be included in inventory. If so, should the item be shown as raw materials, work in process, or finished goods?

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Finished stretch limos awaiting sale Limos under production that have been ordered by specific customers and a deposit made Finished limos shipped to dealers, terms FOB shipping point Luxury cars ordered from a manufacturer and in transit, FOB destination Sheet metal in the company's warehouse Wiring produced in China, in transit on a ship in the Pacific Ocean, terms FOB Shanghai Inventory Category Yes No Raw Material Work in Process Finished Goods