Inventory: Difference between revisions
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Value of raw materials, components, work in progress (WIP) and finished goods held by a reporting entity at a balance sheet date. | Value of raw materials, components, work in progress (WIP) and finished goods held by a reporting entity at a balance sheet date. | ||
The value for financial reporting purposes is the lower of original cost and net realisable value. | |||
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* [[Inventory management]] | * [[Inventory management]] | ||
* [[Last in first out]] (LIFO) | * [[Last in first out]] (LIFO) | ||
* [[Net realisable value]] | |||
* [[Property]] | * [[Property]] | ||
* [[Stock]] | * [[Stock]] | ||
Latest revision as of 13:32, 8 November 2025
1. Raw materials, components, work in progress (WIP) and finished goods held by a company or other entity under review.
2. Financial reporting - balance sheet - assets.
Value of raw materials, components, work in progress (WIP) and finished goods held by a reporting entity at a balance sheet date.
The value for financial reporting purposes is the lower of original cost and net realisable value.
Also known as Stock or Inventories.
