Simplify

question 103

Short Answer

Simplify:

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Definitions:

Ending Inventory

The value of goods available for sale at the end of an accounting period, calculated as the sum of beginning inventory plus purchases minus cost of goods sold.

Raw Materials Production Needs

The essentials and quantities of raw materials required to fulfill the production schedule for goods.

Raw Material Purchases

The total cost of materials bought that are intended to be used in the production of goods.

Cost of Goods Sold

The immediate expenses linked to the manufacturing of products that a company sells.