Difference between revisions of "Inventory"
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== Definition == | == Definition == | ||
− | '''Inventory'''. Stocks of goods held by the firm over a period of time. In the I-O accounts, inventory includes | + | '''Inventory'''. Stocks of goods held by the firm over a period of time. |
+ | |||
+ | In the I-O accounts, inventory includes: | ||
+ | * products purchased for resale, generally held by wholesalers and retailers | ||
+ | * materials and supplies for use in the production of goods for sale or in the provision of a service | ||
+ | * products that are partly processed and that require further processing prior to sale (work in process), and | ||
+ | * finished goods held for sale.<ref>Concepts and Methods of the US Input-Output Accounts. K.J.Horowitz, M.A.Planting, 2009</ref> | ||
== References == | == References == |
Latest revision as of 23:42, 13 November 2023
Definition
Inventory. Stocks of goods held by the firm over a period of time.
In the I-O accounts, inventory includes:
- products purchased for resale, generally held by wholesalers and retailers
- materials and supplies for use in the production of goods for sale or in the provision of a service
- products that are partly processed and that require further processing prior to sale (work in process), and
- finished goods held for sale.[1]
References
- ↑ Concepts and Methods of the US Input-Output Accounts. K.J.Horowitz, M.A.Planting, 2009