What Is Inventory? Meaning Definition Examples

Inventory is the stock of goods held for doing What is Inventory? Meaning Definition Examples Meaning of Inventory


Let's find out, What is inventory?

  1. Inventory is the stock of goods held for doing business.
  2. It is usually required to carry on the business and its allied activities.

Important points covering the meaning of inventory is depicted below.

production process.

  • Work in progress (WIP). For example, semi-finished goods.
  • Captive consumable goods are goods produced and used by producer.
  • Finished goods which are available for sale.

    • Inventory also includes investment made in raw-materials and their parts in accordance with the inventory policy established by the management.


    Inventory is the stock of goods held for doing What is Inventory? Meaning Definition Examples Definition of Inventory


    Inventory can be defined in many ways w.r.t different prespectives. Following selected statements will help you to get a broad understanding of its concept.

    demand and supply in the market and can be easily realized in cash.”

    Inventory is the stock of goods held for doing What is Inventory? Meaning Definition Examples Examples of Inventory


    The examples of inventory of some major industries are depicted below.

    Inventory is the stock of goods held for doing What is Inventory? Meaning Definition Examples

    Following are examples of inventory seen in four major industries:

    1. Automobile industry's inventory comprises of the total number of cars and their spare parts.
    2. Consumable goods' inventory contains packets of wheat flour, cans of edible oil, etc.
    3. Electronic goods' inventory includes televisions, computers, mobile phones, air-conditioners, refrigerators, etc.
    4. Construction industry's inventory mainly covers residential flats and commercial shops.

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