Inventory

Inventory is a detailed listing of the stock-in-trade of a business. 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.

Inventory

In real estate, inventory means that any property held by an individual or entity for future sale or use, and is a record of all of a taxpayer's personal property. This record will also include how much was paid for each property and when, along with each property's current market value. Taxpayers use this record to calculate gain/loss on sale of property.

Inventory

A complete list of items that are classified according to a particular scope.
An inventory of species of insects that communicate using vibrations.
An inventory of pending products; or an inventory of products in stock.
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