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Manufacturing Company
A business that produces goods through the processing of raw materials into finished products on a large scale.
Inventory Accounts
Refers to the ledger accounts that hold records of a company's raw materials, work-in-progress, and finished goods.
FOB Shipping Point
This term refers to a delivery method where the buyer assumes ownership and responsibility for goods the moment they leave the seller's premises.
Ending Inventory
The total value of all inventory a company has in stock at the end of a financial period.
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