Finished Goods Inventory

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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