types of inventory
Back to Index. Types of Inventories There are several types of inventory. Raw materials, purchased parts and supplies work-in process, and component parts are inventories to many businesses. Businesses also need tools, machinery and equipment as part of their capital inventory.
There are three types of businesses such as trading or merchandising, manufacturing, and service. Out of these, services are not inventorial. Here, the first classification of inventory is based on nature of business â Merchandise Inventory and Manufacturing Inventory.