Products that have been completed and are ready for sale at the end of the accounting period are known as

Question

Quizplus · Accepted Answer

Finished goods are products that have completed their manufacturing or production process and are ready for sale to customers. Materials are the raw materials used in the manufacturing process, work in progress refers to products that are partially completed, and cost of goods sold refers to the cost of the finished goods that have been sold during the accounting period.

Products That Have Been Completed and Are Ready for Sale