Consider a roll of sheet steel. This represents $\_\_\_\_\_\_\_\_$ inventory to a farm$-$machinery manufacturer and $\_\_\_\_\_\_\_\_$ inventory in a steel mill.

Multiple Choice

Work$-$in$-$progress; raw materials.

Finished goods; work$-$in$-$progress.

Raw materials; finished goods.

Raw materials; work$-$in$-$progress.

Finished goods; raw materials.