direct materials inventory
work in process inventory
finished goods inventory
indirect material inventory
✅ The correct answer is B.
An inventory, which consists of partially worked goods or work in progress is called work in process inventory. Work-in-process is an asset, and so is aggregated into the inventory line item on the balance sheet (usually being the smallest of the three main inventory accounts, of which the others are raw materials and finished goods).
An inventory, which consists of partially worked goods or work in progress is called work in process inventory. Work-in-process is an asset, and so is aggregated into the inventory line item on the balance sheet (usually being the smallest of the three main inventory accounts, of which the others are raw materials and finished goods).