inventory

noun

in·ven·to·ry | \ ˈin-vən-ˌtȯr-ē

plural inventories

Definition of inventory

(Entry 1 of 2)

1a : an itemized list of current assets: such as

(1) : a catalog of the property of an individual or estate

(2) : a list of goods on hand

b : a survey of natural resources

c : a list of traits, preferences, attitudes, interests, or abilities used to evaluate personal characteristics or skills

2 : survey, summary

3 : the quantity of goods or materials on hand : stock

4 : the act or process of taking an inventory

inventory

verb

inventoried; inventorying

Definition of inventory (Entry 2 of 2)

transitive verb

: to make an inventory of : catalog

Other Words from inventory Synonyms Example Sentences Learn More about inventory

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Other Words from inventory

Noun

inventorial \ ˌin-vən-ˈtȯr-ē-əl

\ adjective

inventorially \ ˌin-vən-ˈtȯr-ē-ə-lē

\ adverb

Examples of inventory in a Sentence

Noun

We made an inventory of the library's collection. The dealer keeps a large inventory of used cars and trucks. Inventories at both stores were low. How can a small business afford to keep so much inventory? We'll be doing inventory on the collection soon.

Verb

We'll be inventorying the collection soon. would you inventory the supplies in the back room?

Recent Examples on the Web: Noun

In the colonial and industrial ages, Myhre says, our language reflected an idea of the natural world as an inventory of useful commodities — separate from, and subservient to, humanity. — Dan Zak, Washington Post, "How should we talk about what’s happening to our planet?," 27 Aug. 2019 Other buyers who benefit from purchasing an inventory or move-in-ready home are people who want to take part in a 1031 Exchange. — Cameron Sullivan, The Mercury News, "Sponsored: Quick-move-in logic," 23 Aug. 2019 Lyon, the police have an extensive inventory of evidence that has been collected from the crime scene. — Alexandra Lo Re, NBC News, "Virginia police asking for public's help in decade-old double murder," 23 Aug. 2019 The checks were discovered during an inventory of Franklin’s possessions, adding a new twist to the battle over the Queen of Soul’s estate. — Claudia Rosenbaum, Billboard, "Aretha Franklin Died With $1 Million in Uncashed Checks," 21 Aug. 2019 When a beauty retailer has an inventory as vast as Dermstore’s, its sales become a truly huge deal. — Alexis Rhiannon, Allure, "Dermstore’s 20th Anniversary Sale Is Happening Now — Here’s What to Shop," 16 Aug. 2019 The Shade Tree, a new book store, has an inventory befitting a much bigger town. — Robert Simonson, New York Times, "A Road Trip to the Fiberglass Frontier of Northern Wisconsin," 14 Aug. 2019 In 2009, state records show that he was fined by the DEA and disciplined by the Utah Board of Pharmacy for various problems at his pharmacy, including failing to conduct an annual inventory and maintain required controlled substance forms. — Anchorage Daily News, "Just 15% of U.S. pharmacies distributed nearly half of prescription opioid pain pills," 12 Aug. 2019 The most important thing for a team is to have an inventory of high-caliber arms from which to pick, choose, and adapt. — Alex Speier, BostonGlobe.com, "Red Sox in no position for deadline blockbuster," 30 July 2019

Recent Examples on the Web: Verb

While inventorying the subject’s property Officer Quimby located a fraudulent social security card. — Houston Chronicle, "Bellaire Police Department weekly report," 9 Sep. 2019 Officials with the Idaho Department of Lands told Gov. Brad Little and other Land Board members that a better method of inventorying the state’s timber holdings found significantly more timber available for cutting. — USA TODAY, "Record grapefruit, light rail win, Snake Road: News from around our 50 states," 29 Aug. 2019 Bracero applied for medical retirement, but instead was reassigned to jobs that involved making copies and inventorying laptops in a windowless room. — Tess Sheets, orlandosentinel.com, "3 female Orlando officers injured on duty accuse OPD of gender bias | Exclusive," 27 Aug. 2019 Researchers who met in working groups agreed that, to get started, NCI first needs to inventory the existing databases and biospecimen repositories. — Jocelyn Kaiser, Science | AAAS, "Researchers weigh in on Trump’s $500 million plan to share childhood cancer data," 5 Aug. 2019 The apartment company announced a plan Friday to begin inventorying and packing up residents' belongings in 184 units that were not impacted by the crane. — Dallas News, "After fatal Dallas crane collapse, 6 displaced residents sue apartments, crane company," 16 July 2019 The Commerce Department could start by inventorying the nation’s untapped reserves. — Timothy Puko, WSJ, "Prized ‘Rare Earth’ Minerals Feel Scorch of Tariffs," 29 Nov. 2018 Homeowners should inventory possessions and store the list outside the home. — Nicole Friedman, WSJ, "What Does Your Homeowners Policy Cover in Disasters? Often, Not Enough," 2 Aug. 2018 One goal is to inventory the chemicals released by wildfires, including nitrogen oxides and carbon monoxide, and a vast array of volatile organic compounds. — Warren Cornwall, Science | AAAS, "Scientists race to reveal how surging wildfire smoke is affecting climate and health," 31 May 2018

These example sentences are selected automatically from various online news sources to reflect current usage of the word 'inventory.' Views expressed in the examples do not represent the opinion of Merriam-Webster or its editors. Send us feedback.

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More Definitions for inventory

inventory

noun

Financial Definition of inventory

What It Is

Inventory is the collection of unsold products waiting to be sold. Inventory is listed as a current asset on a company's balance sheet.

How It Works

Inventory is commonly thought of as the finished goods a company accumulates before selling them to end users. But inventory can also describe the raw materials used to produce the finished goods, goods as they go through the production process (referred to as "work-in-progress" or WIP), or goods that are "in transit."

There are generally five reasons companies maintain inventories:

To meet an anticipated increase in demand;
To protect against unanticipated increases in demand;
To take advantage of price breaks for ordering raw materials in bulk;
To prevent the idling of a whole factory if one part of the process breaks down; and,
To keep a steady stream of material flowing to retailers rather than making a single shipment of goods to retailers.

Inventory can also be used as collateral to obtain financing in some cases.

The basic requirement for counting an item in inventory is economic control rather than physical possession. Therefore, when a company purchases inventory, the item is included in the purchaser's inventory even if the purchaser does not have physical possession of those items.

Inventory is usually classified in its own category as an asset on the balance sheet, following receivables. It is important to note that the balance sheet's inventory account should also reflect costs directly or indirectly incurred in making an item ready for sale, including the purchase price of the item as well as the freight, receiving, unpacking, inspecting, storage, maintenance, insurance, taxes, and other costs associated with it.

Why It Matters

Inventory is a key component of c

inventory

Definition of inventory

Other Words from inventory

Synonyms for inventory

Examples of inventory in a Sentence

First Known Use of inventory

History and Etymology for inventory

Financial Definition of inventory

inventory

Definition of inventory

Other Words from inventory

Synonyms for inventory

Examples of inventory in a Sentence

First Known Use of inventory

History and Etymology for inventory

Financial Definition of inventory

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