inventory


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Inventory

For companies: Raw materials, items available for sale or in the process of being made ready for sale. They can be individually valued by several different means, including cost or current market value, and collectively by FIFO (First in, first out), LIFO (Last in, first out) or other techniques. The lower value of alternatives is usually used to preclude overstating earnings and assets. For securities firms: Securities bought and held by a broker or dealer for their own account.

Inventory

The raw materials and the products made from them that a company possesses and intends to sell in short order. It also includes raw materials that are in the process of being made into a final product. Inventory is considered an asset on a balance sheet, but because it comes with costs (such as storage and spoilage), most companies seek to find a balance between having too much inventory, which comes with these costs, and too little, which could result in the company not filling orders for the product. Inventory may be accounted on a last-in-first-out or a first-in-first-out basis, which each has advantages and disadvantages. See also: Just-in-Time, Just-in-Case.

inventory

The amount of raw materials, work in process, and finished goods being held for sale at a given time. Diamonds held by a jeweler, engines owned by General Motors, and canned and frozen foods in a grocery store chain's warehouse are examples of inventory. Inventory is generally the least liquid item listed by a firm in the current asset account of its balance sheet. See also beginning inventory, ending inventory.

inventory

the STOCKS of finished goods, WORK IN PROGRESS and raw materials held by businesses. See INVENTORY INVESTMENT, STOCKHOLDING COSTS.

inventory

the STOCKS of finished goods, WORK-IN-PROGRESS and raw materials held by businesses. See INVENTORY INVESTMENT.

inventory

(1) The total listings controlled by a real estate broker.(2) The total property for sale or lease in a defined area.(3) Property held for sale in the ordinary course of business or to be used in the manufacture of goods held for sale.(4) An itemized listing of personal property.

Inventory

For income tax purposes, inventory consists of items acquired for sale to customers in the regular course of a taxpayer's trade or business.
References in periodicals archive ?
'Rice stocks inventory level in both households and commercial warehouses declined by 24.79 percent and 28.77 percent, respectively in comparison to their previous month's levels,' the PSA added.
Oracle Retail Store Inventory Operations Cloud Service provides retailers the ability to deploy the store inventory solution faster, while taking advantage of future investment through frequent service updates.
The legendary retailer was named a gold winner in the category of "Inventory Optimization," recognized for their innovative use of RFID to leverage store inventory for omni-channel order fulfillment.
Inventory management software, which tracks average turnover, top-selling items and other critical information, can help businesses get a handle on their books.
This left about 44,000 assorted items, many of which man-agement concluded were "excess" inventory that it wrote down to its "net realizable value," in accordance with GAAP.
A growing body of empirical literature has examined inventory using aggregate-level or firm-level inventory data.
We all know that "you get what you measure." To define inventory at a level where we can improve it, we need to disaggregate the company's overall inventory into classifications that reflect that particular inventory's role in the supply chain.
CoreLogic found that for every two homes available on multiple listing services (MLS), there is one home in the shadow inventory awaiting some kind of resolution.
As an alternative, the IRS stated that the retail-inventory method could achieve the same result by permitting taxpayers to reduce the numerator (the cost of beginning inventory and the cost of purchases) of the cost-to-retail ratio for all non-sales- based allowances, discounts, or price rebates, including markdown allowances, but requiring a reduction of the denominator (the retail selling price of beginning inventory plus the retail selling price of purchases) of the cost-to-retail ratio for all permanent markdowns related to mark-down allowances.
Samsudin Bin and Mohammed Zain (1994) in their research work entitled Inventory Management Strategy: Malaysia Airlines 1989-1993 explain the need for formulating new guidelines for fixing safety stock, taking demand pattern into consideration.
Inventory optimization software is starting to gain some traction in the marketplace, especially now when more companies are racing to find ways to work smarter, better, and faster--but it's yet to catch fire.
If the EUM Inventory Report (shown on page 105) does not show all of the items that you wish to inventory, you should use the EUM Inputs screen to enter your inventory/disposition data.