Types of Inventory Multiple Choice Questions with Answers – PDF Download

MCQ 1: The budget sales, plus target ending finished goods inventory, minus beginning finished goods inventory is equal to:

1. budget production
2. planned production
3. setup production
4. stand by production

MCQ 2: An inventory, which consists of partially worked goods is called:

1. direct materials inventory
2. work in process inventory
3. finished goods inventory
4. indirect material inventory

MCQ 3: The inventory of the final goods that are not yet sold is called:

1. finished goods inventory
2. indirect material inventory
3. direct materials inventory
4. work in process inventory

MCQ 4: An inventory which consists of stock waiting to be used In the process of manufacturing is known as:

1. finished goods inventory
2. indirect material inventory
3. direct materials inventory
4. work in process inventory

MCQ 5: In cost accounting, the types of inventory do not include:

1. direct materials inventory
2. work in process inventory
3. finished goods inventory
4. indirect material inventory