Materials & Components
Inputs that will be used in the production of products and services such as the food in a restaurant's kitchen.Work in Process
Partially finished goods waiting for completion such as a stock of bicycles waiting for tires at a bicycle factory.Finished Goods
Goods that are ready to be sold. These may be warehoused for a period of time.Goods in Transit
Finished goods that are in transit to your end-customer or distribution channels.Consigned Goods
Inventory that has been delivered to your distribution partners that you still own. For example, an automobile at a car dealership that is still owned by the manufacturer.Merchandise Inventory
Goods that have been purchased to be resold such as the goods held by an ecommerce distribution center.Maintenance, Repair & Operating Supplies
Supplies that are consumed in the production of a product or service that aren't part of the product itself. For example, cleaning supplies and tools.| Overview: Inventory | ||
Type | ||
Definition | Current assets that are expected to be sold by a business. | |
Related Concepts | ||
