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Finished Goods Inventory
The total value of all completed products that are ready for sale at the end of an accounting period, part of a company's current assets.
Cost of Goods Sold
The direct costs attributable to the production of the goods sold by a company, including the cost of the materials and labor directly used to create the good.
Material
Substantial or significant; in accounting, referring to an amount that would influence the decision of an informed user.
Labor
The human effort (physical or mental) contributed to the production of goods and services.
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