Products that have been started but are only partially complete at the end of the accounting period are known as

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Products that have been started but are only partially complete at the end of the accounting period are known as work in process. Materials are the raw materials used to create the products, finished goods are products that have been completed and are ready to be sold, and cost of goods sold is the cost of the products that have been sold during the accounting period.

Products That Have Been Started but Are Only Partially Complete