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Generally Accepted Accounting Principles (GAAP) MCQs

At what stage in the manufacturing cycle is Raw Materials?

End of the manufacturing cycle, after processing is complete

When materials have been ordered from the vendors

When inventory has been received and is available to be issued to the manufacturing process

When the materials have been issued to the shop floor

Answer

Correct Answer: When inventory has been received and is available to be issued to the manufacturing process

Explanation:

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