1) The Inventory of a manufacturer before the addition of any direct labor or manufacturing overhead is: (Select 13pts) RAW MATERIALS WORK IN PROGRESS [PROCESS OY FINISHED GOODS 2) Contra-revenue account used to record refunds to customers and reductions of their accounts (Select 13pts) Sales Returns and Allowances Purchase Discounts @ Purchases Returns and Allowances Transportation-in (shipping terms) Credit Terms and Sales Discounts 3) The perpetual system of inventory is a system in which Select 13pts) The ending inventory is determined by counting the merchandise Record keeping is reduced The level of control is high Inventory account is not increased at the time of each purchase and not decreased at the tima of each sale