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Raw Materials
Basic materials and substances used in the initial stages of the production process.
Purchased
A term referring to items or services acquired by a company or individual, typically in exchange for money.
Finished Goods Inventory
Represents products that have completed the manufacturing process but have not yet been sold to customers.
Cost of Goods Sold
The direct costs attributable to the production of the goods sold by a company, including material and labor costs.
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