Partly manufactured goods are treated in the balance sheet of a manufacturing company as
Answer Details
Partly manufactured goods are treated in the balance sheet of a manufacturing company as current assets. These goods are also known as work in progress (WIP) and represent goods that are in the process of being manufactured but are not yet complete. They are included in current assets because they are expected to be sold or completed within the next operating cycle of the business. Once the goods are completed, they will be transferred to finished goods inventory and then treated as current assets until they are sold.