The main difference on the income statement between a manufacturer and a merchandiser includes:

The main difference on the income statement between a manufacturer and a merchandiser includes:
 

    items making up cost of goods sold Correct
    items making up raw materials inventory
    selling and administrative expenses
    revenue

 Answer

   items making up cost of goods sold

 

Completed products ready for sale are referred to as:
 
    work in process inventory
    raw materials inventory
    finished goods inventory Correct
    cost of goods sold inventory 

Answer

finished goods inventory