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A company's merchandise, raw materials, finished and unfinished products which have not yet been sold is known as
Work in progress
A company's merchandise, raw materials, finished and unfinished products which have not yet been sold is known as Inventory. Inventory is an accounting term that refers to goods that are in various stages of being made ready for sale, including: Finished goods (that are available to be sold) Work-in-progress (meaning in the process of being made) Raw materials (to be used to produce more finished goods)
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