Questions: A merchandising company usually has one inventory account while a manufacturing company usually has inventory accounts.

A merchandising company usually has one inventory account while a manufacturing company usually has inventory accounts.
Transcript text: A merchandising company usually has one inventory account while a manufacturing company usually has $\qquad$ inventory accounts.
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Solution

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The answer is the last one (or D): 3.

Explanation: A manufacturing company typically has three inventory accounts:

  1. Raw Materials Inventory: This account tracks the cost of materials that have not yet been used in production.
  2. Work-in-Process (WIP) Inventory: This account tracks the cost of products that are in the process of being manufactured but are not yet complete.
  3. Finished Goods Inventory: This account tracks the cost of products that are completed and ready for sale.

In contrast, a merchandising company usually has only one inventory account, which is the Merchandise Inventory account, tracking the cost of goods purchased for resale.

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