Examlex
All of the following deductible expenses are deductions for AGI except
Raw Material
The basic substance in its natural, modified, or semi-processed state, used as an input to a production process for manufacturing.
Closing Inventory
The quantity and value of stock on hand at the end of an accounting period.
Direct Material
Raw materials that can be directly attributed to the production of goods.
Finished Products
Goods that have completed the manufacturing process and are ready for sale.
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