A. Raw materials and purchased parts.
B. Partially completed goods (Work-in-Process) or goods in transit.
C. Finished goods inventories
manufacturing firms, or merchandise (meaning retail stores)
D. Replacement of parts, tools, and supplies.
- Raw Materials – The inventories needed for the production of services or goods
- Work-in-process – items, such as components or assemblies needed to produce a final product in manufacturing
- Finished goods -- the items in manufacturing plants, warehouses, and retail outlets that are sold to the firms customers