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The jet streams
Raw Materials Inventory
This refers to the total cost of all the materials that are used in the production of goods but have not yet been transformed into finished products.
Work-In-Process Inventory
Inventory that includes materials and products that are in the process of being manufactured but are not yet complete, often accounted for in cost accounting.
Finished Goods Inventory
Products that have completed the manufacturing process and are ready for sale.
Cost Of Goods Sold
The immediate expenses related to the manufacturing of products a company sells, which encompass both materials and labor.
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