The inventory of the final goods that are not yet sold is called __________?
Correct answer: A. finished goods inventory
- A. finished goods inventory
- B. indirect material inventory
- C. direct materials inventory
- D. work in process inventory
Explanation
Finished goods inventory consists of completed products that remain unsold at the reporting date. Materials not yet used are direct materials inventory, while incomplete products are work in process.
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About Cost Accounting
Cost accounting measures and analyses the cost of producing goods or providing services for planning, control and pricing decisions. It covers direct and indirect costs, fixed and variable costs, job and process costing, break-even analysis, marginal costing, overhead allocation, and the difference between product cost and period cost.
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