Instructions: Analyze the following items. On the blank before each number, write RMI if it would be reported as part of the cost of Raw Materials Inventory, WIP if Work-in-Process Inventory, FGI if Finished Goods Inventory, MI if Merchandise Inventory Account, and REI if under Real Estate Inventory.

If an item should NOT be included in the cost of inventory, write N/A. Note that the reporting period ends on December 31. (20 items x 1 point)

_ 1.Raw materials on hand not yet placed into production by a manufacturing firm

_ 2.Raw materials on which a manufacturing firm has started production, but which are not completely processed

_ 3.Factory labor costs incurred on goods completed but still unsold by a manufacturer

_ 4.Factory supplies on hand

_ 5.Costs identified with units completed by a manufacturing firm, but not yet sold

_ 6.Goods out on consignment at another company's store

_ 7.Goods held on consignment from another company

_ 8.Merchandise purchased FOB shipping point that are in transit at December 31

_ 9.Merchandise purchased f.o.b. destination that are in transit at December 31

_ 10. Merchandise sold FOB shipping point that are in transit at December 31

_ 11. Goods sold FOB destination that are in transit at December 31

_ 12. Goods sold on an installment basis

_ 13. Costs incurred to advertise goods held for resale

_ 14. Interest costs incurred to finance activities associated with making goods ready for sale; the goods are routinely manufactured items

_ 15. Interest costs on assets produced as discrete projects (such real estate) for sale

_ 16. Cost of sales brochures on hand

_ 17. Investments in stocks and bonds that will likely be sold within the next year

_ 18. Office supplies on hand

_ 19. Freight charges on goods purchased for resale

_ 20. Supplies purchased for use in the delivery and sales functions of the enterprise