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Which of the following is FALSE? a. Manufacturing firms have 3 categories of inventories: raw materials, work-in-process, and finished goods. b. Merchandising firms include wholesalers

Which of the following is FALSE?

a. Manufacturing firms have 3 categories of inventories: raw materials, work-in-process, and finished goods.

b. Merchandising firms include wholesalers and retailers.

c. Inventory costs on the balance sheet include taxes and shipping costs.

d. Merchandising firms have 3 categories of inventories: raw materials, work-in-process, and finished goods.

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