ECONOMICS

Detailed explanation-1: -Perpetual Inventory: An Overview. Inventory refers to any raw materials and finished goods that companies have on hand for production purposes or that are sold on the market to consumers.

Detailed explanation-2: -There are four main types of inventory: raw materials/components, WIP, finished goods and MRO.

Detailed explanation-3: -Inventory is the raw materials used to produce goods as well as the goods that are available for sale. It is classified as a current asset on a company’s balance sheet.

Detailed explanation-4: -A stock that is paid for in full and is not pledged in any way as collateral. * Required Information.

Detailed explanation-5: -inventory, in business, any item of property held in stock by a firm, including finished goods ready for sale, goods in the process of production, raw materials, and goods that will be consumed in the process of producing goods to be sold.