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.

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

a.	Finished goods inventory Inventory (merchandise) Manufacturing companies Merchandising companies Raw materials inventory Service companies Wholesalers Work in process inventory report three types of inventory on the balance sheet.

b.

Finished goods inventory Inventory (merchandise) Manufacturing companies Merchandising companies Raw materials inventory Service companies Wholesalers Work in process inventory for a company such as Best Buy (consumer electronics) includes all of the costs necessary to purchase products and get them onto the store shelves.

c.

Most for-profit organizations can be described as being in one (or more) of three categories:
	,		, and		.

d.	Finished goods inventory Inventory (merchandise) Manufacturing companies Merchandising companies Raw materials inventory Service companies Wholesalers Work in process inventory is composed of goods partially through the manufacturing process (not finished yet).

e.	Forever 21, Target, and Kohl's are all examples of finished goods inventory inventory (merchandise) manufacturing companies merchandising companies raw materials inventory service companies wholesalers work in process inventory .

f.	Finished goods inventory Inventory (merchandise) Manufacturing companies Merchandising companies Raw materials inventory Service companies Wholesalers Work in process inventory typically do not have an inventory account.

g.	Johnson & Johnson, a personal care products manufacturer, converts finished goods inventory inventory (merchandise) manufacturing companies merchandising companies raw materials inventory service companies wholesalers work in process inventory into finished products.