Question

Material can be..

1. raw material
2. work in progress
3. all of the above​

Answer 1

Answer:

3. all of the above

hope it helps

Answer 2

Answer:

Which of the following statements are correct?

I. Inventory includes raw materials, finished goods and work-in-progress

II. Inventory is a part of the working capital

III. Inventory includes goods likely to be purchased.

ANSWER

Inventory includes raw material, finished goods and work-in-progress and inventory is a part of working capital. Working capital is current assets - current liabilities. Current assets include stock as it can be converted in cash within a period of 1 year.