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Cost of Goods Manufactured
The total production cost of goods completed during a specific period, including materials, labor, and overhead costs.
Finished Goods Inventory
Inventory of finished goods awaiting sale but not yet purchased by consumers.
Raw Materials Inventory
The total cost of all parts and materials kept in stock by a company to be used in production.
Indirect Materials
Materials used in the production process but not directly traceable to a finished product, such as lubricants and cleaning supplies.
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