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How has grade inflation changed since the 1960s?
Work in Process Inventory
Goods in manufacturing that are partially completed; not yet ready for sale but more advanced than raw materials.
Direct Material Usage
The quantity of raw materials or supplies consumed in the production of goods or services.
Raw Materials Inventory
The total cost of all components and materials stored that are intended to be used in production.
Accounts Payable
Accounts payable represents the company's obligation to pay off a short-term debt to its creditors or suppliers.
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