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Finished Goods Inventory
Inventory that includes items that have been manufactured and are ready for sale but have not yet been sold.
Unadjusted Cost of Goods Sold
The initial calculation of all costs directly associated with the production of goods sold by a company, not including any adjustments for inventory methods or valuation changes.
Operations
The day-to-day activities involved in running a business that are necessary for producing goods and services and generating revenue.
Direct Labor-Hours
The total hours worked by employees directly involved in the production process, used as a basis for assigning labor costs to products.
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