Asked by Genna Greco on May 30, 2024
Verified
Goods that are partway through the manufacturing process, but not yet complete, are referred to as materials inventory.
Manufacturing Process
A sequence of operations involving the conversion of raw materials into finished goods.
Materials Inventory
The raw materials, work-in-process, and finished goods that a company holds for the purpose of production.
- Identify the different categories of inventory in the manufacturing process.
Verified Answer
KC
Karlee CoddensJun 02, 2024
Final Answer :
False
Explanation :
Goods that are partway through the manufacturing process but not yet complete are referred to as work-in-process inventory, not materials inventory. Materials inventory typically refers to raw materials.
Learning Objectives
- Identify the different categories of inventory in the manufacturing process.
Related questions
Raw Materials Inventories Are the Goods That a Manufacturer Has ...
An Auto Manufacturer Would Classify Vehicles in Various Stages of ...
Finished Goods Are a Classification of Inventory for a Manufacturer ...
All Raw Materials,work in Process,and Finished Goods Within a Supply ...
Seasonal Inventory Is Inventory That Is Built Up to Counter ...