Respuesta :
This statement is correct that the cost of partially completed products is included in the balance of the work in process inventory account.
What is an Inventory Account?
Inventory has a value even before you do anything with it, so it’s listed as an asset on your business balance sheet. But it can lose its value fast if it gets old, out of date, damaged, or the market price for that type of product drops. It also costs money to store. Inventory account helps you figure out the value and cost of your inventory. That’s important for things like setting prices, getting insured, budgeting, working out taxes, and selling your business. It can also help you identify where you’re making the most money in your business.
Therefore, (a) is the correct answer.
To learn more about Inventory Account, refer here :
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