A manufacturer may report three inventoriees on its balance sheet: (1) raw materials, (2) work in progess, and (3) finsihed goods. Indicte in what sequence these inventories generally appear on a balance sheet.

(a) raw materials, work in progress, finished goods
(b) work in progress, finished goods, raw materials
(c) finished goods, raw materials, work in progress
(d) finished goods, work in progress, raw materials

Ans: (d) finished goods, work in progress, raw materials