WGU D102 FINANCIAL ACCOUNTING
UNIT 7 EXAM 2025/2026 QUESTIONS
AND ANSWERS 100% PASS
Inventory - ANS goods held for resale
cost of goods sold - ANS the costs incurred to purchase or manufacture the merchandise sold
during a period
raw materials - ANS materials purchased for use in manufacturing products
work-in-process - ANS partially completed units in production
finished goods - ANS manufactured products ready for sale
manufacturing overhead - ANS the indirect manufacturing costs associated with producing
inventory
FOB (free-on-board)destination - ANS a business term meaning that the seller of
merchandise bears the shipping costs and maintains ownership until the merchandise is
delivered to the buyer
FOB (free-on-board) shipping point - ANS a business term meaning that the buyer of
merchandise bears the shipping costs and acquires ownership at the point of shipment
1 @COPYRIGHT 2025/2026
UNIT 7 EXAM 2025/2026 QUESTIONS
AND ANSWERS 100% PASS
Inventory - ANS goods held for resale
cost of goods sold - ANS the costs incurred to purchase or manufacture the merchandise sold
during a period
raw materials - ANS materials purchased for use in manufacturing products
work-in-process - ANS partially completed units in production
finished goods - ANS manufactured products ready for sale
manufacturing overhead - ANS the indirect manufacturing costs associated with producing
inventory
FOB (free-on-board)destination - ANS a business term meaning that the seller of
merchandise bears the shipping costs and maintains ownership until the merchandise is
delivered to the buyer
FOB (free-on-board) shipping point - ANS a business term meaning that the buyer of
merchandise bears the shipping costs and acquires ownership at the point of shipment
1 @COPYRIGHT 2025/2026
