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Finished goods

From Simple English Wikipedia, the free encyclopedia
English Wiktionary
English Wiktionary
The English Wiktionary has a dictionary definition (meanings of a word) for: finished goods
Example of a finished good: Air New Zealand Boeing 787 Dreamliner.

Finished goods are goods that have completed required manufacturing process and are ready to be fitted/mixed/processed with final product. The final product itself could also be called finished goods. [1] Examples: cars, clothing, food, furniture etc.

Manufacturing[change | change source]

In manufacturing there are three different sorts of stuff:

  1. Raw material
  2. Work in process
  3. Finished goods

Something bought as a "raw material" is used to manufacture a product. A thing that is not completed during the manufacturing process is called "work in process". When the manufacturing of the thing is completed but it is not yet sold or distributed to the end-user, it is called a "finished good".

"Finished good" is a relative term. Finished goods of a supplier can be the raw material of the buyer. For example, a paper mill sells paper to a book publisher who uses it as raw material.

Reference[change | change source]

  1. "Finished Goods Inventory". Archived from the original on 2017-04-29. Retrieved 2022-03-08.