Which inventory account consists of products currently being processed?

A) Finished Goods Inventory
B) Work-in-Process Inventory
C) Manufacturing Overhead Inventory
D) Supplies expense

Work-In-Process Inventory

Items in production that are not yet completed, considered a current asset on a company's balance sheet.

Finished Goods Inventory

Products that have completed the manufacturing process and are ready to be sold to customers.

Manufacturing Overhead

All indirect costs associated with the manufacturing process, such as utilities, maintenance, and factory management salaries.