Difference between these different types of companies

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Reference no: EM133328149

Question: As we discuss managerial accounting, remember that most companies fall into one of three categories: service companies, merchandising companies, and/or manufacturing companies. Some companies are also hybrids of these categories. For example, Publix is a major grocery chain in the southeast United States, which is a hybrid of a merchandising and manufacturing company; selling groceries, but also manufacturing many items they sell under their own Publix label.

Below is an article to a website that explains the difference between these different types of companies:

Article - 3 Types of Companies in Managerial Accounting By Kristin

After reading the website, discuss how managerial accounting and job costing would differ between the different types of companies. For manufacturing companies, explain the difference between raw material inventory, work-in-progress, and finished goods inventory. Why do manufacturing companies maintain 3 different inventory accounts?

Reference no: EM133328149

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