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  3. 1: identify the three inventory accounts maintaine

1: Identify the three inventory accounts maintained by manufacturing firms and explain the purpose of each...

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Accounting

  1. 1: Identify the three inventory accounts maintained bymanufacturing firms and explain the purpose of each - what value dothey provide an organization?
  2. #2: Identify and explain the three major categories used toaccount for manufacturing costs as if none of us have read thechapter - in other words be detailed?

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3 inventory accounts maintained by manufacturing firm Raw material Work in process Finished goods Raw material inventory The purpose of raw material inventory is to ensure there is continuous production and meet the demand of finished goods Raw material inventory is usually carried as per safety stock requirements in order to ensure there is not much money blocked in working capital Work in process Since manufacturing    See Answer
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