The stock of raw materials, inputs, and component parts that an organization has on hand at a particular time is called . storage inventory products stored components holdings

The stock of raw materials, inputs, and component parts that an organization has on hand at a particular time is called Inventory.

The amount of goods that are held by an organisation for the purpose of sale to the customers in near future refers to Inventory. The things that are included in inventory are raw materials, work in progress and finished goods of an organisation. Merchandise is the name that is used by the retailers for the purpose of mentioning inventories.

Inventories plays a major role in an organisation as it determines the amount of goods that are sold and the amount that is in hand. It is very essential for any company to have inventory accounting for the purpose of planning its purchases.

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