inventory


inventory
A detailed list of articles of property; a list or schedule of property and other assets, containing a designation or description of each specific article; quantity of goods or materials on hand or in stock; an itemized list of the various items or articles constituting a collection, estate, stock in trade, etc., with their estimated or actual values.
In law, the term is often applied to such a list made by an executor, administrator, or trustee in bankruptcy. In accounting, refers to segment of financial statement reflecting value of businesses' raw materials, work in process, and finished goods. The two primary types of inventory accounting methods are first-in, first-out, and last-in, first-out.
See FIFO and LIFO.
Goods held for sale or lease or furnished under contracts of service; also, raw materials, work in process or materials used or consumed in a business. U.C.C. No. 9-109(4). Also, written schedule of such goods

Black's law dictionary. . 1990.

Synonyms:
(as of the goods of a merchant or of a deceased person), , , , ,


Look at other dictionaries:

  • Inventory — means a list compiled for some formal purpose, such as the details of an estate going to probate, or the contents of a house let furnished. This remains the prime meaning in British English.[1] In the USA and Canada the term has developed from a… …   Wikipedia

  • inventory — in·ven·to·ry / in vən ˌtōr ē/ n pl ries 1: an itemized list of current assets: as a: a written list or catalog of the property of an individual, organization, or estate or succession that is made by a fiduciary under oath and that usu. describes… …   Law dictionary

  • Inventory — In ven*to*ry, n.; pl. {Inventories}. [L. inventarium: cf. LL. inventorium, F. inventaire, OF. also inventoire. See {Invent}.] 1. An account, catalogue, or schedule, made by an executor or administrator, of all the goods and chattels, and… …   The Collaborative International Dictionary of English

  • inventory — [in′vən tôr΄ē] n. pl. inventories [ML inventorium < LL inventarium < L inventus: see INVENT] 1. an itemized list or catalog of goods, property, etc.; esp., such a list of the stock of a business, taken annually 2. the store of goods, etc.… …   English World dictionary

  • Inventory — In ven*to*ry, v. t. [imp. & p. p. {Inventoried}; p. pr. & vb. n. {Inventorying}.] [Cf. F. inventorier.] To make an inventory of; to make a list, catalogue, or schedule of; to insert or register in an account of goods; as, a merchant inventories… …   The Collaborative International Dictionary of English

  • inventory — (n.) early 15c., from O.Fr. inventoire inventory, detailed list of goods, catalogue, from M.L. inventorium (L.L. inventarium) list of what is found, from L. inventus, pp. of invenire to find (see INVENTION (Cf. invention)). The verb is first… …   Etymology dictionary

  • inventory — ► NOUN (pl. inventories) 1) a complete list of items such as goods in stock or the contents of a building. 2) a quantity of goods in stock. ► VERB (inventories, inventoried) ▪ make an inventory of. ORIGIN Latin inventarium …   English terms dictionary

  • inventory — n *list, register, schedule, catalog, table, roll, roster …   New Dictionary of Synonyms

  • inventory — meaning ‘an official list of goods etc.’, is pronounced in vǝn tǝ ri in BrE and in vǝn taw ri in AmE …   Modern English usage

  • inventory — [n] list of stock; stock account, backlog, catalogue, file, fund, hoard, index, itemization, record, register, reserve, reservoir, roll, roster, schedule, stock book, stockpile, store, summary, supply, table, tabulation; concepts 283,338 …   New thesaurus

  • inventory — the value of all the stock of physical items that a business uses in its production process or has for sale in the ordinary course of doing business. Glossary of Business Terms A category of goods defined by Article 9 of the Uniform Commercial… …   Financial and business terms