Finished goods inventory

Finished goods inventory is goods completed but not yet sold.

Definitions

According to Cost Accounting by Horngren, Datar, Rajan (14th edition),

Finished goods inventory. Goods completed but not yet sold.

According to Managerial Accounting by Braun, Tietz (5th edition),

Finished goods inventory (FG inventory). Completed goods that have not yet been sold.