Multiple Choice
Which of the following is correct?
A) The raw materials inventory account is used to record inventory purchased by a retailer for resale.
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) Retailers use a purchases account to record raw materials inventory.
Correct Answer:
Verified
Correct Answer:
Verified
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