Transportation Operations LINCS Practice Exam

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Which of the following is NOT considered a component of inventory?

Raw materials
Work in process
Finished goods
Final sales data

The correct answer is: Final sales data

Final sales data is not considered a component of inventory because it refers to information regarding completed sales transactions rather than items held in stock. Inventory typically includes items that are in different stages of completion or readiness for sale. This includes raw materials, which are the basic components that go into products; work in process, which consists of items that are partially finished but not yet complete; and finished goods, which are fully completed products ready for sale to customers. Each of these inventory types plays a critical role in the management of a company's supply chain and operational planning. In contrast, final sales data is an outcome of sales activities and does not represent physical inventory held by a business.