An organization may categorize its inventory in three ways: raw materials that it will use to produce its goods; work in process, consisting of items in the manufacturing process but not yet complete; ...

Inventory is one of a company's most important assets, or resources. It consists of the products a business has available for sale and, if the business is a manufacturer, the materials used to make ...

Will Kenton is an expert on the economy and investing laws and regulations. He previously held senior editorial roles at Investopedia and Kapitall Wire and holds a MA in Economics from The New School ...

Learn what inventory accounting is, how it works, and key methods like FIFO, LIFO, and WAC. Includes real-world examples, tips, and best practices. I like to think of inventory accounting like ...