FINISHED GOODS INVENTORY Definition

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FINISHED GOODS INVENTORY (FGI) is that portion of goods in inventory which have completed manufacture and are available for sale.

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WORKING TRIAL BALANCE is similar to the trial balance. Additionally, it contains columns for adjusting entries and the adjusted balance. This report is typically used at year-end to assist in making adjusting entries.

AS-IS CONDITION is the transfer of title to a property in an existing condition with no warranties or representations.

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