E19-4 Listed below are several terms relating to service, merchandising, and manufacturing firms and their inventories. Complete the following statements with one of these terms. You may use a term more than once, and some terms may not be used at all. Finished goods inventory Manufacturing companies Inventory (merchandise) Merchandising companies Service companies Work in process inventory Materials inventory

a. b. C.

d. e. do not have tangible products intended for sale. resell products they previously purchased ready-made from suppliers. produce their own inventory. typically have a single category of inventory. use their work force and equipment to transform raw materials into new finished products.

f. Swaim, a company based in North Carolina, makes furniture. Partially completed sofas Completed sofas that remain unsold in the warehouse are are wood are g. For Kellogg's, corn, cardboard boxes, and waxed paper liners are classified as