Question: Three inventory categories are reported on a manufacturing companys balance sheet: (a) Raw materials, (b) Goods in process, and (c) Finished goods. Identify the usual

Three inventory categories are reported on a manufacturing company’s balance sheet:
(a) Raw materials,
(b) Goods in process, and
(c) Finished goods. Identify the usual order in which these inventory items are reported on the balance sheet.
1. (b) (c) (a)
2. (c) (b) (a)
3. (a) (b) (c)
4. (b) (a) (c)

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