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Beginning Finished Goods Inventory
The value of a company’s finished goods inventory at the start of an accounting period before any sales or production.
Finished Goods Inventory
Inventory that has completed the manufacturing process but has not yet been sold to customers.
Cost of Goods Sold
Costs incurred directly from the production of goods a company offers for sale, covering material and labor expenses.
Work in Process Inventory
Goods partially completed during the manufacturing process, consisting of labor, raw materials, and overhead costs incurred to date.
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