Raw materials is a$($n$)$ Blank$\_\_\_\_\_\_.$

Multiple choice question.

expense

asset

revenue

liability

Multiple choice question.

is generally recorded as an asset on the balance sheet

includes manufacturing costs of goods finished during the period

is the same as cost of goods sold

Multiple choice question.

is the same as cost of goods manufactured

consist of goods that have been sold to customers during the period

consist of completed, unsold goods

consist of goods that require additional processing before being sold

$$

Multiple select question.

Raw materials inventory only includes the cost of direct materials.

When materials are purchased they are recorded in the Raw materials inventory account.

Raw materials inventory represents the cost of materials not yet used in production.

Direct labor costs flow through the Raw materials inventory account.