Meaning of Inventory
Let's notice out, What is inventory?
- Inventory is the stock of goods held for doing business.
- It is commonly required to deport on the draw of piece of job organisation together with its allied activities.
Important points roofing the pregnant of inventory is depicted below.
production process.
Work inward progress (WIP). For example, semi-finished goods. Captive consumable goods are goods produced together with used yesteryear producer. Finished goods which are available for sale. Inventory too includes investment made inward raw-materials together with their parts inward accordance alongside the inventory policy established yesteryear the management.
Definition of Inventory
Inventory tin live on defined inward many ways w.r.t dissimilar prespectives. Following selected statements volition aid you lot to larn a wide agreement of its concept.
demand together with provide inward the market together with tin live on easily realized inward cash.”
Examples of Inventory
The examples of inventory of unopen to major industries are depicted below.
Following are examples of inventory seen inward 4 major industries:
- Automobile industry's inventory comprises of the full seat out of cars together with their spare parts.
- Consumable goods' inventory contains packets of wheat flour, cans of edible oil, etc.
- Electronic goods' inventory includes televisions, computers, mobile phones, air-conditioners, refrigerators, etc.
- Construction industry's inventory mainly covers residential flats together with commercial shops.
