Ppt Presentation on Inventory Management
MEANING OF INVENTORY
•The meaning of inventory is ‘stock of goods’. In accounting language it may include:
•(a)RAW MATERIAL: They are required to carry out production activities uninterruptedly.
•(b)WORK-IN-PROGRESS: It is a stage of stocks between raw material & finished goods.
•(c)CONSUMABLES: These are needed to smoothen the process of production.
•(d)FINISHED GOODS: These are the goods which are ready for the consumers.
•(e)SPARES: Form a part of inventory.