Raw materials . Merchandise inventory . Finished goods . Work in process . =================================================== ACC 557 Week 5 Chapter 7 ( E7-5 E7-7 E7-14 P7-3A ) FOR MORE CLASSES VISIT
No Yes No No 14- Multiple Choice Question 123
The lower-of-cost-or-market ( LCM ) basis may be used with all of the following methods except
FIFO . LIFO . The LCM basis may be used with all of these . average cost . 15- Multiple Choice Question 161
Inventory items on an assembly line in various stages of production are classified as
Raw materials . Merchandise inventory . Finished goods . Work in process . =================================================== ACC 557 Week 5 Chapter 7 ( E7-5 E7-7 E7-14 P7-3A ) FOR MORE CLASSES VISIT