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What is Inventory?

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Uploaded by on Dec 28, 2011

Inventory refers to physical things that are held by an organization for further conversion or sale. Inventory can include finished goods, partially finished goods called work-in-process inventory, components, or raw materials.

If you want to learn more about the basics of procurement, please consider taking the online class "Mastering Purchasing Fundamentals" from Next Level Purchasing. For more information, visit www.NextLevelPurchasing.com.

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