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Hsin and Li Mei are Chinese and considered to be "shi gú" type people. This means they are
Finished Goods Inventory
Manufactured products that are complete and ready for sale, recorded as an asset on the balance sheet until sold.
Raw Materials Inventory
The total cost of all the components and materials held by a company that are eventually used in the production process.
Gross Margin
The difference between the revenue earned from sales and the cost of goods sold, indicating the profitability from the core business activities before administrative and other expenses.
Merchandise Purchases
Transactions involving the buying of goods for sale, typically in a retail or wholesale business setting.
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