h of the following statements is the most correct regarding the value of inventory reported on the balance sheet for a manufacturer? Multiple Choice Total inventory on the balance sheet is equaled to the cost of the inventory sold during the year. Total inventory on the balance sheet is equaled to the cost of the raw materials and labor used to produce the inventory. Total inventory on the balance sheet is equaled to the price at which the company expects to sell the inventory on hand. Total inventory on the balance sheet is the sum of the costs reflected in raw materials, work-in-process, and finished goods inventory. Total inventory on the balance sheet is the cost reflected in finished goods inventory only