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Product that is ready for sale without significant further processing
You can help expand this article with text translated from the corresponding article in German. (December 2024) Click for important translation instructions.
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In production, a final product or finished product is a product that is ready for sale, distinguishable from a business's work in progress, which is not yet complete or ready for sale.
For example, oil is the final product of an oil company. The farmer sells his vegetables as his final product, after they have been through the whole process of growth.
References
Wouters, Mark; Selto, Frank H.; Hilton, Ronald W.; Maher, Michael W. (2012): Cost Management: Strategies for Business Decisions, International Edition, Berkshire (UK), p. 532.
