Question $11$ pts

Work in process of a manufacturer

Group of answer choices

Not Inventory

Inventory

Liability

Equity

Flag question: Question $2$

Question $21$ pts

Finished goods awaiting sale

Group of answer choices

Liability

Inventory

Not Inventory

Revenue

Flag question: Question $3$

Question $31$ pts

Raw materials held by a manufacturer

Group of answer choices

Revenue

Not Inventory

Inventory

Liability

Flag question: Question $4$

Question $41$ pts

Goods on order from a supplier

Group of answer choices

Revenue

Not Inventory

Depends on Shipping term if it is FOB Destionation or FOB Shipping point

Inventory

Flag question: Question $5$

Question $51$ pts

Sold goods not yet shipped to the customer

Group of answer choices

Since the performance obligation is not satisfied and not shipped yet then Sales can not be recognized therefore it is not inventory

Not Inventory

Equity

Inventory

Flag question: Question $6$

Question $61$ pts

Goods in transit from a supplier, F$.$O$.$B$.$ shipping point

Group of answer choices

None of the above.

Not Inventory

Revenue

Inventory

Flag question: Question $7$

Question $71$ pts

Goods in transit from a supplier, F$.$O$.$B$.$ destination

Group of answer choices

No Adjusting Entries are needed.

None of the above.

Inventory

Not Inventory

Flag question: Question $8$

Question $81$ pts

Goods in transit to a customer, F$.$O$.$B$.$ shipping point

Group of answer choices

Inventory

Not Inventory

Equity

no gain or loss.

Flag question: Question $9$

Question $91$ pts

Goods in transit to a customer, F$.$O$.$B$.$ destination

Group of answer choices

Equity

Inventory

Revenue

Not Inventory

Flag question: Question $10$

Question $101$ pts

Consignor's accounting for consigned goods

Group of answer choices

no gain or loss.

Inventory

None of the above.

Not Inventory