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What is inventory?

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Describe inventory and provide some examples of inventory you have seen in your experience? How does inventory affect a firm's financial performance? Provide and example of service inventory?

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Solution Summary

The solution explains inventory and provides examples of inventory from professional experience. It also discusses how inventory affects a firm's financial performance, with examples of service inventory given. This solution is 297 words.

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Inventory can fall under many different definitions depending on the scope of the business. The most common form of inventory is physical inventory, which are the goods and the property that the company holds as finished products, until the company reduces the inventory through sales. Inventory includes all items in the company's stock, including the work that is in progress at the end of the period. Examples of inventory vary depending on the industry. Examples of inventory include ...

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