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Raw Materials Inventory
The stock of basic materials that are used in the production process but have not yet been processed.
Raw Material Purchases
The cost associated with acquiring raw materials needed for production.
Credit Sales
Credit sales are transactions where the customer purchases goods or services on account, paying at a future date rather than at the time of purchase.
Finished Goods Inventory
The stock of completed products ready for sale but not yet sold at the end of an accounting period.
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