1 The inventory of a manufacturer before the addition of any direct labor or manufacturing overhead is: (Select 1/3pts) RAW MATERIALS O WORK IN PROGRESS [PROCESS 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 Purchase Returns and Allowances Transportation-In (shipping tems) Credit Terms and Sales Discounts 3) The perpetual system of inventory is a system in which (Select 13pes) The ending inventory is determined by counting the merchandise O Record keeping is reduced The level of control is high