Inventory Definition

Inventory refers to the goods and materials that a business holds for the ultimate purpose of resale. Inventory signifies one of the most important assets that most businesses hold, because the turnover of inventory represents one of the primary sources of revenue generation and successive earnings for the company’s shareholders/owners. i

Fixed Manufacturing Overhead Cost Released From Inventory Definition

Sana Ahmed Accounting Definitions, Cost Accounting, Managerial Accounting, Managment Accounting

Fixed Manufacturing Overhead Cost Released From Inventory Definition: The portion of the fixed manufacturing overhead cost of a prior period that becomes an expense of the current period under the absorption costing method as a result of sales exceeding production.