Identify types of companies and their inventories (Learning Objective 1)

Complete the following statements with one of the terms listed here. You may use a term more than once, and some terms may not be used at all.

a. _produce their own inventory.

b. _typically have a single category of inventory.

c. _donot have tangible products intended for sale.

d. _resell products they previously purchased ready-made from suppliers.

e. _use their workforce and equipment to transform raw materials into new finished products.

f. _sell to consumers.
g. Swaim, a company based in North Carolina, makes furniture. Partially com¬ pleted sofas are_Completed sofas that remain unsold in the warehouse are_Fabric and woodare-
h. For Kellogg’s, corn, cardboard boxes, and waxed paper liners are classified as-
i. _buy in bulk from manufacturers and sell to retailers

Transcribed Image Text:

Finished goods inventory Manufacturing companies Raw materials inventory Inventory (merchandise) Merchandising companies Wholesalers Service companies Work in process inventory Retailers