The three categories of inventories commonly found in many manufacturing companies are:O A. LIFO, FIFO, and weighted average.O B. Purchased goods, period costs, and cost of goods sold.O C. Direct materials, work-in-process, and finished goods.O D. Direct materials, direct labor, and indirect manufacturing costs.

There are companies which make the goods and the products whose activities are involved into such…

Answered: The three categories of inventories…

Business

Accounting

The three categories of inventories commonly found in many manufacturing companies are:

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter6: Activity-based, Variable, And Absorption Costing

Section: Chapter Questions

Problem 17MC: Under absorption costing, a unit of product includes which costs? A. direct material, direct labor,...

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Inventory Accounting

Inventory accounting is that branch of accounting that helps in determining the specific value of assets at different stages of production and development.

Question

The three categories of inventories commonly found in many manufacturing companies are:
O A. LIFO, FIFO, and weighted average.
O B. Purchased goods, period costs, and cost of goods sold.
O C. Direct materials, work-in-process, and finished goods.
O D. Direct materials, direct labor, and indirect manufacturing costs.

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