Examlex
Which of the following refers to the procedures that keep data current?
Finished Goods Inventory
The value of a company's inventory of products that are completed and ready for sale, but have not yet been sold.
Raw Materials Inventory
The total value of all the inputs that are used in the production process but have not yet been transformed into finished products.
Production Budget
An estimate of the total cost of production, including materials, labor, and overhead costs, for a specific period.
Ending Inventory
is the value of goods available for sale at the end of an accounting period, calculated by adding new purchases to the starting inventory, then subtracting the cost of goods sold.
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