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Work in Process
Goods that are in various stages of the production process but are not yet completed.
Finished Goods
Products that have completed the manufacturing process but have not yet been sold or distributed to customers.
Job Order Cost System
An accounting system that accumulates costs for each individually customized job, useful in manufacturing or service settings where work is undertaken on a specific order basis.
Lawyer Time
The hours spent by an attorney on legal work for a client, often billed by the hour.
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