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Show me the steps to solve Which of the following is correct? Multiple Choice Finished goods is an asset account used by a manufacturing company
Show me the steps to solve Which of the following is correct? Multiple Choice Finished goods is an asset account used by a manufacturing company to record the cost of inventory ready for sale. Retailers use a purchases account to record raw materials inventory. Work in process is an expense account used by a manufacturing company. The raw materials inventory account is used to record inventory purchased by a retailer for resale.
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