|Home A B C D E F G H I J K L M N O P Q R S T U V W X Y Z|
|Home Other Articles Inventories: What Are Inventories?|
What Are Inventories?
Inventories encompass goods purchased and held for resale including, for example, merchandise purchased by a retailer and held for resale, or land and other property held for resale. Inventories also encompass finished goods produced, or work in progress being produced, by the entity and include materials and supplies awaiting use in the production process. In the case of a service provider, inventories include the cost of the service for which the entity has not yet recognised the related revenue.
Glossary References Links Contact