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Manufacturing Inventories
Manufacturing inventories consist of raw materials, work-in-process items, and finished goods that are held by a company in the course of producing its products.
Work-In-Process
Items that are in production but are not yet completed; represents one of the stages in the inventory of a manufacturing company.
Finished Goods Inventory
The completed products that are ready for sale but have not been sold yet.
Manufacturing Overhead
Represents all the indirect costs associated with the production process of a company, including utilities, depreciation, and salaries not directly tied to specific units of product.
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