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Which famous person referred to compounding as "the greatest mathematical discovery of all time?"
Merchandise Inventory
Merchandise Inventory consists of products that a company buys to resell at a profit. It is often one of the largest current assets for businesses that sell physical goods.
Goods In Process Inventory
Items that are partially completed in the production process; not yet finished goods but not raw materials.
Raw Materials Inventory
Raw Materials Inventory is the stock of materials that are on hand and available for use in the production process.
Finished Goods Inventory
Products that have completed the manufacturing process and are ready to be sold to customers.
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