Inventory Asset Classification
Inventories is typically categorized as a current asset in the balance sheet of a business. Inventory Asset Classification is because inventory expect to sell or consume within the normal operating cycle of the business, which is usually within one year. However, if the inventory is held for a longer period of time, or if it is held for some other purpose such as investment. It may be classified as a non-current asset. It is mandatory for preparing balance sheet and financial analysis for any organisation.
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