Which of the following is the definition of work in progress inventory?
A.
Inventory that has finished the production process
B.
Inventory introduced into production but not completed as of the stocktake date
C.
Inventory not yet introduced into the production process
D.
Obsolete inventory
The Answer Is:
B
This question includes an explanation.
Explanation:
Explanation
Work in progress is the stock part-way through a manufacturing process; in the service sectors the term is also used for anything between order and delivery.
[Reference: CIPS study guide page 83, LO 2, AC 2.1]
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