Manufacturing company converts raw materials and purchased parts into work in process inventory.

A manufacturing company's process of converting raw materials and purchased parts into work-in-process inventory involves several steps:

1. Procurement of Raw Materials and Parts: The first step is to procure the necessary raw materials and parts. This could involve purchasing from suppliers or producing them in-house.

2. Inspection and Storage: Once the raw materials and parts are procured, they are inspected for quality and then stored until they are needed in the production process.

3. Production Planning: The company then plans out the production process. This involves determining the quantity of products to be produced, scheduling the production, and allocating the necessary resources.

4. Conversion Process: The actual conversion process involves using labor and machinery to transform the raw materials and parts into semi-finished goods. This could involve various processes such as cutting, shaping, assembling, etc.

5. Quality Control: After the conversion process, the semi-finished goods go through a quality control process. This ensures that the products meet the company's quality standards.

6. Work-in-Process Inventory: The semi-finished goods are then classified as work-in-process inventory. They remain in this state until they are fully completed and ready to be sold.

7. Completion and Sale: Once the products are fully completed, they are moved out of the work-in-process inventory and are ready to be sold.

This process is cyclical and continuous in a manufacturing company.