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Video of Finished Goods Inventory in Costs Accounting course by Edspira channel, video No. 15 free certified online
This video discusses Finished Goods Inventory.
Manufacturers have three types of inventory: Raw Materials Inventory, Work-in-Process Inventory, and Finished Goods Inventory. Finished Goods Inventory consists of products that have been completed and are ready to be sold to customers.
When the product is sold, the costs in Finished Goods Inventory will be expensed through Cost of Goods Sold.
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Edspira’s mission is to make a high-quality business education accessible to all people.
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