Questions: Inventory which is partially complete is known as - raw materials - work in process - finished goods

The answer is the second one: work in process.

Explanation for each option:

• Raw materials: These are the basic materials that are used to produce goods. They have not yet been processed or transformed into a product, so they are not partially complete.

• Work in process: This refers to inventory that is in the production process but is not yet finished. It is partially complete, as it has undergone some transformation but is not ready for sale.

• Finished goods: These are products that have completed the production process and are ready for sale. They are fully complete, not partially.

In summary, inventory that is partially complete is known as work in process.