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Question
The principle types of inventories are raw materials, ___________ and finished goods.
The principle types of inventories are raw materials, ___________ and finished goods.
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Solution
The correct option is B Work-in-progress
Inventories may be classified as raw material, work in progress and finished goods. Goods which is partly finished is considered as goods in progress or work in progress.
Inventories may be classified as raw material, work in progress and finished goods. Goods which is partly finished is considered as goods in progress or work in progress.
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