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Answer Posted / aakeef
Material that has entered the production process but is not
yet a finished product.
The production of a product has a 3 phase/Process
1.raw material
2.work in progress
3.finished product
Work in progress (WIP) therefore refers to all materials
and partly finished products that are at various stages of
the production process. WIP excludes inventory of raw
materials at the start of the production cycle and finished
products inventory at the end of the production cycle.
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