What are the 3 kinds of inventory?
There are three main types of inventory:
- raw materials inventory.
- work-in-process inventory.
- finished goods inventory.
What are the types of inventory in a manufacturing business?
There are four main types of inventory: raw materials/components, WIP, finished goods and MRO.
What are the different types of inventory accounts?
These companies have mainly three types of inventory accounts: raw material, work-in-process and finished goods.