Inventory is a detailed listing of the stock-in-trade of a business. Inventory is the source of the subsequent earnings of a company. Inventory types typically can be grouped under three classifications: raw material, work in progress, and finished goods.

1. Raw materials: Goods that are used in the production as a source material.
2. Work in progress: All the materials that are being processed.
3. Finished goods: Completed goods that are ready for sale.


In business, "goodwill" refers to the reputation of a business. In selling a business, it represents non-physical assets such as brand recognition, customer loyalty, patents, copyrights, and trademarks.

Goodwill is considered an intangible asset in an acquisition because it is not a physical asset like shares, property, or equipment.
Improved by Simon Mueller