gerlal Accounting 1. Three inventory categories are reported on a manufacturing company's balance sheet: (a)Work-in- Process (b) Raw Materials, and (c) Finished Goods. What is the usual order in which these inventory items are reported on the balance sheet C. (a)lbNc) D. (b)(a)c) E. None of the above 2. The three product costs for a manufacturing company are: A. 8. C. D. E. Direct materials, direct labor and factory overhead indirect labor, indirect materials and fixed expenses Period costs, product costs and sunk costs Variable costs, fixed costs and period costs Opportunity costs, sunk costs and direct costs What is the usual sequence of the following three manufacturing activities: (a) production activities, (b) sales activities and (c) materials activities? 3. B. (clbMa) C. (a)lb)(c) D. (b(a)(c) E. None of the above