Finished good

Finished goods are goods

Good (economics and accounting)

In macroeconomics and accounting, a good is contrasted with a service. In this sense, a good is defined as a physical product, capable of being delivered to a purchaser and involves the transfer of ownership from seller to customer, say an apple, as opposed to an service, say a haircut...

 that have completed the manufacturing

Manufacturing

Manufacturing is the use of machines, tools and labor to make things for use or sale. The term may refer to a range of human activity, from handicraft to high tech, but is most commonly applied to industrial production, in which raw materials are transformed into finished goods on a large scale...

 process but have not yet been sold or distributed to the end user.


Manufacturing

Manufacturing

Manufacturing is the use of machines, tools and labor to make things for use or sale. The term may refer to a range of human activity, from handicraft to high tech, but is most commonly applied to industrial production, in which raw materials are transformed into finished goods on a large scale...

 has three classes of inventory

Inventory

Inventory is a list for goods and materials, or those goods and materials themselves, held available in stock by a business. It is also used for a list of the contents of a household and for a list for testamentary purposes of the possessions of someone who has died...

:

1. Raw material
   Raw material
   A raw material is something that is acted upon or used by or by human labor or industry, for use as a building material to create some product or structure. Often the term is used to denote material that came from nature and is in an unprocessed or minimally processed state. Iron ore, logs, and...
   
   
2. Work in process
   Work in process
   Work in process or in-process inventory includes the set at large of unfinished items for products in a production process. These items are not yet completed but either just being fabricated or waiting in a queue for further processing or in a buffer storage...
   
   
3. Finished goods

A good purchased as a "raw material" goes into the manufacture of a product. A good only partially completed during the manufacturing process is called "work in process".

Finished goods are goods

Good (economics and accounting)

In macroeconomics and accounting, a good is contrasted with a service. In this sense, a good is defined as a physical product, capable of being delivered to a purchaser and involves the transfer of ownership from seller to customer, say an apple, as opposed to an service, say a haircut...

 that have completed the manufacturing

Manufacturing

Manufacturing is the use of machines, tools and labor to make things for use or sale. The term may refer to a range of human activity, from handicraft to high tech, but is most commonly applied to industrial production, in which raw materials are transformed into finished goods on a large scale...

 process but have not yet been sold or distributed to the end user.

Manufacturing

Manufacturing

Manufacturing

Manufacturing is the use of machines, tools and labor to make things for use or sale. The term may refer to a range of human activity, from handicraft to high tech, but is most commonly applied to industrial production, in which raw materials are transformed into finished goods on a large scale...

 has three classes of inventory

Inventory

Inventory is a list for goods and materials, or those goods and materials themselves, held available in stock by a business. It is also used for a list of the contents of a household and for a list for testamentary purposes of the possessions of someone who has died...

:

1. Raw material
   Raw material
   A raw material is something that is acted upon or used by or by human labor or industry, for use as a building material to create some product or structure. Often the term is used to denote material that came from nature and is in an unprocessed or minimally processed state. Iron ore, logs, and...
   
   
2. Work in process
   Work in process
   Work in process or in-process inventory includes the set at large of unfinished items for products in a production process. These items are not yet completed but either just being fabricated or waiting in a queue for further processing or in a buffer storage...
   
   
3. Finished goods

A good purchased as a "raw material" goes into the manufacture of a product. A good only partially completed during the manufacturing process is called "work in process". When the good is completed as to manufacturing but not yet sold or distributed to the end-user, it is called a "finished good".

Finished goods is a relative term. In a Supply chain management

Supply chain management

Supply chain management is the management of a network of interconnected businesses involved in the ultimate provision of product and service packages required by end customers...

 flow, the finished goods of a supplier

Vendor (supply chain)

A vendor, or a supplier, is a supply chain management term meaning anyone who provides goods or services to a company. A vendor often manufactures inventoriable items, and sells those items to a customer.-History:...

 can constitute the raw material

Raw material

A raw material is something that is acted upon or used by or by human labor or industry, for use as a building material to create some product or structure. Often the term is used to denote material that came from nature and is in an unprocessed or minimally processed state. Iron ore, logs, and...

 of a buyer

Buyer

When someone gets characterised by their role as buyer of certain assets, the term "buyer" gets new meaning:A "buyer" or merchandiser is a person who purchases finished goods, typically for resale, for a firm, government, or organization...

.