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Which of the following is correct? A. Retailers use a purchases account to record raw materials inventory. B. Work in process is an expense account
Which of the following is correct?
A. | Retailers use a purchases account to record raw materials inventory. |
B. | Work in process is an expense account used by a manufacturing company. |
C. | Finished goods is an asset account used by a manufacturing company to record the cost of inventory ready for sale. |
D. | The raw materials inventory account is used to record inventory purchased by a retailer for resale. |
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