The answer is true. Any inventory product that manufacturers sell to buyers, whether they are upstream vendors or retailers, is considered finished goods. All raw materials, items in stage of production, and finished goods inventory are included. It is also known as finished product.
Inventory Value means standard cost determined on a first-in-first-out basis and carried on such Loan Party's general ledger or inventory system at time of any determination thereof, in Dollars, determined in accordance with standard cost method of accounting less, without duplication. All raw materials, items in each stage of production, and finished goods inventory are included.
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