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Inventory, often called merchandise, refers to goods and materials that a business holds for sale to customers in the near future. Here are some examples of inventory: Shoes (Inventory). 1) Joe Superathlete Shoes sells Adidas and Nike shoes. Guess what? Those are both inventory for his Inventory is commonly thought of as the finished goods a company accumulates before selling them to end users. But inventory can also describe the raw materials used to produce the finished goods, goods as they go through the production process (referred to as "work-in-progress" or WIP), or goods that are "in transit." inventory definition: The definition of an inventory is a detailed list of all of the items present or the process of making such a list. (noun) An example of an Inventory also includes goods or services that are on consignment (subject to return by a retailer) or in transit. There are three types of inventory: raw materials, work-in-progress, and finished goods. The meaning of inventory, inventory management, and inventory accounting defined and explained with examples, including manufacturing and retail inventory. 16 Oct 2012 Meaning of Inventory. Let's find out, What is inventory? Inventory is the stock of goods held for doing business. It is usually required to carry on 28 May 2015 Most businesses carry some inventory. In this lesson, you'll learn about what inventory is, some related concepts and be provided examples Inventory is one of a company's most important assets, or resources. It consists of the products a business has available for sale and, if the business is a
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