Work-in-process inventory refers to the partially completed materials within a production line. According to the team at Accounting Tools, this term considers the cost of raw materials, direct labor ...

Unless you're first starting your business, you'll almost always start an accounting period with inventory that you purchased during a preceding period. And unless you're liquidating your company, you ...

The number of times a business sells and replaces its stock over a given time period is its inventory turnover ratio. The inventory turnover ratio, also sometimes called stock turns or inventory turns ...