Work in Process (WIP) Inventory
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Work in Process (WIP) Inventory
This video discusses Work-in-Process Inventory. Manufacturers have three types of inventory: Raw Materials Inventory, Work-in-Process Inventory, and Finished Goods Inventory. Work-in-Process Inventory consists of partially-built units. An example would be a partially-constructed house for a home builder. Raw materials have been added and labor ...
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