Accounting Dictionary - Letter W

A B C D E F G H I J K L M N O P Q R S T U V W X Y Z
Work-in-process inventory
is the inventory cost of started but not finished production. Work-in-process inventory includes the cost of direct materials, direct labor, and allocated overhead already included in production. Work-in-process is included in manufacturing costs. Work-in-process inventory is presented in current assets on the balance sheet.
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