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Summary QuestionWhat are the three elements of a manufacturer's inventory account at various st
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What are the three elements of a manufacture1QuestionWhat are the three elements of a manufacturer's inventory account at various stages of production? Question 5Select one: a. Raw Materials, Labour, Overhead b. There is no Inventory account for a manufacturer c. Raw Materials, Work in Progre...

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  • October 13, 2024
  • 2
  • 2024/2025
  • Summary

Subjects

  • labour
  • work in progress
  • work in progress
  • what are the three elements of a manufacture1ïqu
  • overhead b there is no inventory account for a m
  • finished goods d raw materials
  • overheadanswer explanationthe

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Question


What are the three elements of a manufacturer's inventory account at various

stages of production? Question 5Select one: a. Raw Materials, Labour,

Overhead b. There is no Inventory account for a manufacturer c. Raw Materials,

Work in Progress, Finished Goods d. Raw Materials, Work in Progress,

Overhead




Answer & Explanation


The correct answer is: c. Raw Materials, Work in Progress, Finished Goods


Explanation:


1. Raw Materials: This is the inventory account that includes all the basic

materials and components that are used to produce goods. These are the

inputs that have not yet been put into production.

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