Answer:
Items a) and b)
a) items used currently in the production of goods to be sold items
b) held for resale items currently in production for future
Explanation:
Inventory consists of current assets to be used in production of final goods or are the ones which are final goods and held for sale.
In the given case also, statement a includes raw materials, which are used to make the final good to be sold, which is a part of inventory.
Further, statement b includes work in production or final goods which are currently in production but would be resold.
The items which are kept for their use as like machinery or furniture or which shall be disposed are not inventory but are in fixed assets category.
The definition of inventory includes:
1. Items used currently in the production of goods to be sold items
2. Held for resale items currently in production for future
Inventory are current assets to be used in production of final goods. They are materials held by a business meant to be sold for profit purposes.
With regards to the above, inventory also include materials, which are used to make the final good to be sold.
Again, inventory includes work in production or final goods which are currently in production but would be resold.
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