Inventory

THE TERM " INVENTORY" IS ORIGINATOR FROM THE FRANCH WORD " INVENTIVE" AND THE LATIN " INVENTION" , WHICH IMPLIES A LIST OF THINGS FOUND, THE TERM INVENTORY HAS BEEN DEFINED BY THE AMERICAN INSTITUTE OF ACCOUNTANT AS THE AGGREGATE OF THOSE ITEMS OF TANGIBLE PERSONAL PROPERTY WHICH {A} ARE HELD FOR SALE IN THE ORDINARY COURSE OF BUSINESS, (B) ARE IN THE PROCESS OF PRODUCTION FOR SUCH SALES OR {C} ARE TO BE CURRENTLY CONSUMED IN THE PRODUCTION OF GOODS OR SERVICE TO BE AVAILABLE FOR SALE, THE TERM INVENTORY REFERS TO THE STOCKPILE OF THE PRODUCT A FIRM IS OFFERING FOR SALE AND THE COMPONENTS THAT MAKE UP THE PRODUCT , INVENTORIES ARE THE STOCK OF THE COMPANY, MANUFACTURING FOR SALE AND THE COMPONENTS THAT MAKE UP THE PRODUCT, THE VARIOUS FORM IN WHICH INVENTORIES EXITS IN A MANUFACTURING COMPANY ARE ; {1} RAW MATERIAL {2} WORK -IN PROCESS, FINISHED PACKAGING, SPARES AND OTHERS STOCKED IN ORDER TO MEET AN UNEXPECTED DEMAND OR DISTRIBUTION IN THE FUTURE ;

 

KEYWORDS ; THE STOCKPILE OF THE PRODUCT A FIRM IS OFFERING FOR SALE AND THE COMPONENTS THAT MAKE UP THE PRODUCT,

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