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Raw Material Costs
The total expense incurred for materials that are used in the production of goods or services.
Beginning Inventory
The value of the total goods available for sale at the start of an accounting period.
Ending Inventory
The worth of products ready for purchase at the conclusion of a financial period, determined by adding the initial inventory to acquisitions and subtracting the cost of goods sold.
Production Planning
The process of outlining the steps necessary for the efficient production of goods, including scheduling, materials procurement, and capacity planning.
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