Match the Inventory-Related Accounts to Costs That May Be Included

question 196

Multiple Choice

Match the inventory-related accounts to costs that may be included in inventories for retailers and manufacturers.
-Cost of materials which are not yet entered into the production process.

• A)Merchandise Inventory
• B)Raw Materials
• C)Work in Process
• D)Finished Goods
• E)Cost of Goods Sold

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Definitions:

Special Form

A unique or distinct arrangement, shape, or structure that sets something apart from others.

Organic Product

A compound or material derived from living organisms or produced by chemical reactions involving organic compounds.

Reaction

A procedure whereby reactants are changed into different entities, the outcomes of which are called products.

Sodium Salt

A compound formed from the neutralization of an acid with sodium hydroxide, where the hydrogen of the acid is replaced with a sodium ion.