1.What is meant by Inventory ??
2.Which does it contains??
3.Are spare parts inventories?If yes then Why?
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Inventory
Replies (1)
Inventory
The raw materials, work-in-process goods and completely finished goods that are considered to be the portion of a business's assets that are ready or will be ready for sale. Inventory represents one of the most important assets that most businesses possess, because the turnover of inventory represents one of the primary sources of revenue generation and subsequent earnings for the company's shareholders/owners.
Spare Parts can be a business inventory if the primary business is of spare parts.
Regards,
Devendra K
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