Goods that will be used in production are considered as___________.

Raw Materials

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Work in Progress

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Finished Goods

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Inventory

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Solution

The correct option is A Raw Materials
Inventory may be classified as:

Inventory of Raw Material
Inventory of Finished Goods
Work In Progress

Raw material is converted in to finished goods by spending conversion cost.

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Similar questions

Q17. Consider the following statements about Fair Average Quality (FAQ)):

1. FAQ is used to describe food products that are of good enough quality to be sold.

2. FAQ is used to describe food products that are of good enough quality to be sold.

FAQ is used to describe food products that are of good enough quality to be sold.

Goods which are used in the process of production of goods and service

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