Answer
P&G reports its inventories on the balance sheet simply as “inventories.”
Work Step by Step
The three descriptions (sub-totals) used are:
1. Materials and supplies
2. Work in process
3. Finished goods.
Intermediate Accounting 14th Edition
by Kieso, Donald E.; Weygandt, Jerry J.; Warfield, Terry D.
Published by
Wiley
ISBN 10:
0470587237
ISBN 13:
978-0-47058-723-2
Chapter 9 - Using Your Judgment - Financial Reporting - Instructions - Page 540: b
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