The inventory can be defined as the list compiled for a formal purpose. In business, inventory holds the raw materials, work-in progress goods along with completely finished good which are considered to be a part of business assets that are, or will be ready for sales. Business store an ideal amount of inventory as high inventory storage can lead to obsolescence and excessive spoilage... https://www.expertsmind.com/accounting/accounting-for-inventories-homework-assignment-help.aspx