[{"data":1,"prerenderedAt":7},["ShallowReactive",2],{"faq-standard-7208":3},{"rec_id":4,"title":5,"text":6},"7208","Inventory Value","Inventory should include the following:\r\n\u003Cul>\r\n\u003Cli>Merchandise or stock in trade\u003C/li>\r\n\u003Cli>Raw materials\u003C/li>\r\n\u003Cli>Work in process\u003C/li>\r\n\u003Cli>Finished products\u003C/li>\r\n\u003Cli>Supplies that physically become a part of the item intended for sale\u003C/li>\r\n\u003C/ul>\r\nAlso, the following merchandise should be included in inventory:\r\n\u003Cul>\r\n\u003Cli>Purchased merchandise if title has passed to you even if the merchandise is in transit to you or you do not have physical possession of it for another reason\u003C/li>\r\n\u003Cli>Goods under contract for sale that you have not yet segregated and applied to the contract\u003C/li>\r\n\u003Cli>Goods out on consignment\u003C/li>\r\n\u003Cli>Goods held for sale in display rooms, merchandise mart rooms, or booths located away from your place of business\u003C/li>\r\n\u003C/ul>\r\nDon't include the following merchandise in inventory:\r\n\u003Cul>\r\n\u003Cli>Goods you have sold, but only if title has passed to the buyer\u003C/li>\r\n\u003Cli>Goods consigned to you\u003C/li>\r\n\u003Cli>Goods ordered for future delivery if you do not yet have title\u003C/li>\r\n\u003C/ul>\r\nHere are some additional items that shouldn't be included in inventory:\r\n\u003Cul>\r\n\u003Cli>Land, buildings, and equipment used in your business\u003C/li>\r\n\u003Cli>Notes, accounts receivable, and similar assets\u003C/li>\r\n\u003Cli>Supplies that do not physically become part of the item intended for sale\u003C/li>\r\n\u003C/ul>",1777391481741]