inventory


inventory
the value of all the stock of physical items that a business uses in its production process or has for sale in the ordinary course of doing business. Glossary of Business Terms
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A category of goods defined by Article 9 of the Uniform Commercial Code. Inventory is goods held for sale or lease. It includes raw materials, work-in-progress, finished goods, and materials used or consumed in a business. American Banker Glossary
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For companies: Raw materials, items available for sale or in the process of being made ready for sale. They can be individually valued by several different means, including cost or current market value, and collectively by FIFO ( first in, first out), LIFO (( last in, first out) or other techniques. The lower value of alternatives is usually used to preclude overstating earnings and assets. For securities firms: Securities bought and held by a broker or dealer for resale. Bloomberg Financial Dictionary

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inventory in‧ven‧tory [ˈɪnvəntri ǁ -tɔːri] noun inventories PLURALFORM especially AmE
1. [countable, uncountable] ACCOUNTING the amount of stock, including raw material S, supplies and finished goods, that a company has at a particular time; = stock Bre:

• Companies have cut inventories sharply since the downturn began.

• Cash-and-carry outlets rely on a rapid turnover of stock to keep down inventory levels.

beˈginning ˌinventory [uncountable] ACCOUNTING
the amount of goods that a store or other retailer has at the beginning of a period of time; = opening stock
conˈtinuous ˌinventory also perˈpetual ˌinventory
[countable, uncountable] ACCOUNTING an inventory in which records are changed whenever new items are received or old items are used up or sold, so that it always contains the most recent information
2. [countable] a list of the goods and property owned by a particular person, organization, or country:
continuous inventory of

• A full inventory of equipment will be maintained.

3. take ( an) inventory ACCOUNTING to make a list of goods that a company or a person has at a particular time:

• Newmark & Lewis were closed Sunday to take inventory.

— see also first in, first out, last in, first out

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   A company's stock of raw materials, semi-finished and finished goods. Also known simply as stock.

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Ⅰ.
inventory UK US /ˈɪnvəntri/, /ɪnˈventəri/ US  /ˈɪnvəntɔri/ noun
[C or U] COMMERCE, PRODUCTION the amount of goods a store or business has for sale at a particular time, or their value: »

About half of the shop's inventory was damaged in the tornado.

»

Analysts say the company's inventory of unsold cars could last two to three months.

»

a big/large/low inventory

ACCOUNTING, PRODUCTION the amount of goods and materials owned by a company at a particular time, including parts, products being made, and finished products: »

Businesses are increasing their spending on plants, equipment and inventories.

»

cut/bring down/reduce inventory

»

We are trying to reduce manufacturing cycle time and the associated raw material, work in process, and finished goods inventory levels.

[C] a detailed list of all the goods and property owned by a person or a business: »

a complete/extensive/detailed inventory

do/make/take an inventory »

We need to take a hardware inventory to estimate the hardware upgrade costs.

See also BEGINNING INVENTORY(Cf. ↑beginning inventory), CONTINUOUS INVENTORY(Cf. ↑continuous inventory)
Ⅱ.
inventory UK US /ˈɪnvəntri/, /ɪnˈventəri/ US  /ˈɪnvənˌtɔri/ verb [T]
to make a detailed list of all the goods and property owned by a person or a business: »

The judge ordered that all property should be inventoried before any more sales were made.


Financial and business terms. 2012.

Synonyms:
(as of the goods of a merchant or of a deceased person), , , , ,


Look at other dictionaries:

  • Inventory — means a list compiled for some formal purpose, such as the details of an estate going to probate, or the contents of a house let furnished. This remains the prime meaning in British English.[1] In the USA and Canada the term has developed from a… …   Wikipedia

  • inventory — in·ven·to·ry / in vən ˌtōr ē/ n pl ries 1: an itemized list of current assets: as a: a written list or catalog of the property of an individual, organization, or estate or succession that is made by a fiduciary under oath and that usu. describes… …   Law dictionary

  • Inventory — In ven*to*ry, n.; pl. {Inventories}. [L. inventarium: cf. LL. inventorium, F. inventaire, OF. also inventoire. See {Invent}.] 1. An account, catalogue, or schedule, made by an executor or administrator, of all the goods and chattels, and… …   The Collaborative International Dictionary of English

  • inventory — [in′vən tôr΄ē] n. pl. inventories [ML inventorium < LL inventarium < L inventus: see INVENT] 1. an itemized list or catalog of goods, property, etc.; esp., such a list of the stock of a business, taken annually 2. the store of goods, etc.… …   English World dictionary

  • Inventory — In ven*to*ry, v. t. [imp. & p. p. {Inventoried}; p. pr. & vb. n. {Inventorying}.] [Cf. F. inventorier.] To make an inventory of; to make a list, catalogue, or schedule of; to insert or register in an account of goods; as, a merchant inventories… …   The Collaborative International Dictionary of English

  • inventory — (n.) early 15c., from O.Fr. inventoire inventory, detailed list of goods, catalogue, from M.L. inventorium (L.L. inventarium) list of what is found, from L. inventus, pp. of invenire to find (see INVENTION (Cf. invention)). The verb is first… …   Etymology dictionary

  • inventory — ► NOUN (pl. inventories) 1) a complete list of items such as goods in stock or the contents of a building. 2) a quantity of goods in stock. ► VERB (inventories, inventoried) ▪ make an inventory of. ORIGIN Latin inventarium …   English terms dictionary

  • inventory — n *list, register, schedule, catalog, table, roll, roster …   New Dictionary of Synonyms

  • inventory — meaning ‘an official list of goods etc.’, is pronounced in vǝn tǝ ri in BrE and in vǝn taw ri in AmE …   Modern English usage

  • inventory — [n] list of stock; stock account, backlog, catalogue, file, fund, hoard, index, itemization, record, register, reserve, reservoir, roll, roster, schedule, stock book, stockpile, store, summary, supply, table, tabulation; concepts 283,338 …   New thesaurus


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