A company's inventory is one of its most important assets. Inventory can be broken down into four categories -- raw materials, finished product, work in process and supplies. Raw materials are the ...

Generally Accepted Accounting Principles (GAAP) recognize three different types of inventory: raw materials, work-in-process and finished goods. Not every type of business carries all three types of ...

Many of those in supply chain management learned early on the principles of just-in-time (JIT) manufacturing. Inspired by the work of Taiichi Ohno at Toyota Motor Co., the JIT revolution tightly ...

The American Institute of CPAs’ Financial Reporting Executive Committee has posted an early working draft of guidance on inventory valuation guidance, with a goal of eventually publishing a broader ...