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

question 192

Multiple Choice

Match the inventory-related accounts to costs that may be included in inventories for retailers and manufacturers.
-cost of ingredients used to make a product

• A)merchandise inventory
• B)raw materials
• C)work-in-process
• D)finished goods
• E)cost of goods sold

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Definitions:

Robert Sternberg

An American psychologist known for his theory on intelligence and creativity, including the triarchic theory of intelligence.

Intelligence

The ability to acquire and apply knowledge and skills.

Xerox Machine

A brand of photocopier that uses a dry copying process to reproduce documents and images.

Photocopier

A machine that makes copies of documents and other visual images onto paper or plastic film quickly and cheaply.