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The inventory turnover ratio for all firms should be greater than 2 times.
Finished Goods
Units of product that have been completed but not yet sold to customers.
Raw Material
Basic materials used in the manufacturing process to produce finished goods, including items like metals, plastics, and textiles.
Finished Product
A completed item that is ready for sale or has been sold.
Raw Material
The basic materials from which products are made, typically unprocessed or minimally processed resources.
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