Which of the Following Costs Is Not Included as Inventory

question 7

Multiple Choice

Which of the following costs is not included as inventory on the balance sheet?

• A)Raw materials to be used in the manufacturing process.
• B)Work in process.
• C)Finished goods.
• D)Freight-out costs for finished goods sent to retailers.

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Definitions:

Superposition

A principle in geology that states in an undeformed sequence of sedimentary rocks, each layer is older than the one above.

Facies Change

A change in the characteristics of rock layers indicating a change in environment of deposition, such as from marine to terrestrial.

Aerial Distribution

The spatial spread or dispersion of a substance, organism, or feature through the atmosphere.

Unconformity

A discontinuity in sedimentary rock sequences indicating a period of erosion or non-deposition.