Asked by
Katie Henderson
on Oct 15, 2024
Verified
Newly completed units are combined with beginning finished goods inventory to make up total ending work in process inventory.
Work in Process Inventory
Goods that are in various stages of the production process but are not yet complete products.
Finished Goods Inventory
Items that are fully manufactured, prepared for sale, and available for customers to buy.
- Master the components and governance of inventories in production settings: raw materials, work in process, and finished merchandise.
Verified Answer
AW
Learning Objectives
- Master the components and governance of inventories in production settings: raw materials, work in process, and finished merchandise.
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