Tuesday, October 16, 2012

What is Inventory? Meaning, Definition and Examples

Meaning of Inventory
Inventory is the stock of goods held for doing business.
It is usually required to carry on the business and its allied activities.
The meaning of inventory and important things it covers is depicted below.

Meaning of inventory mainly revolves around following four important points:
Raw-materials required for production process.
Work in progress (WIP). For example,

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