Identify types of companies and inventories (Learning Objective 1)

Fill in the blanks with one of the following terms: manufacturing, service, merchandising, retailer(s), wholesaler(s), raw materials inventory, merchandise inventory, work in process inventory, finished goods inventory, freight-in, the cost of merchandise.

a. \(\qquad\) companies generally have no inventory.

b. Boeing is a \(\qquad\) company.

c. Merchandisers' inventory consists of \(\qquad\) and \(\qquad\)

d. \(\qquad\) companies carry three types of inventories: \(\qquad\) , and \(\qquad\) .

e. Prudential Insurance Company is a \(\qquad\) company.

f. Two types of \(\qquad\) companies include \(\qquad\) and \(\qquad\)
g. Direct materials are stored in \(\qquad\)
h. Sears is a \(\qquad\) company.
i. Manufacturers sell from their stock of . \(\qquad\)
j. Labor costs usually account for the highest percentage of \(\qquad\) companies' costs.
k. Partially completed units are kept in the \(\qquad\) .