Work in process refers to materials that have begun their transformations into finished products but are not yet complete. When running a business, you should keep track of your work in process and ...

Beginning inventory is the book value of a company’s inventory at the start of an accounting period. It is also the value of inventory carried over from the end of the preceding accounting period.

Adam Hayes, Ph.D., CFA, is a financial writer with 15+ years Wall Street experience as a derivatives trader. Besides his extensive derivative trading expertise, Adam is an expert in economics and ...

Let’s face it—inventory can be a beast. One week you’re feeling on top of every box, and the next you’re hunting for a missing widget like it’s hidden treasure. Doesn’t matter if you manage a tiny ...

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 ...