inventory

noun
in·​ven·​to·​ry | \ ˈin-vən-ˌtȯr-ē How to pronounce inventory (audio) \
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
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

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Other Words from inventory

Noun

inventorial \ ˌin-​vən-​ˈtȯr-​ē-​əl How to pronounce inventorial (audio) \ adjective
inventorially \ ˌin-​vən-​ˈtȯr-​ē-​ə-​lē How to pronounce inventorially (audio) \ adverb

Synonyms for inventory

Synonyms: Noun

budget, force, fund, pool, repertoire, reservoir, stock, supply

Synonyms: Verb

enumerate, itemize, list, numerate

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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?
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Recent Examples on the Web: Noun

And Sedona's city manager told The Arizona Republic in January that about 20% of the town's total housing inventory was vacation rentals and some residents are feeling squeezed out of the community. Andrew Oxford, azcentral, "Ducey says Arizona lawmakers will revisit laws on short-term rentals after outcry in Sedona," 22 Aug. 2019 But inventory management was so bad that chief operating officer John Mulligan had to pause an early pilot project. Fortune, "Big-Box Rebound: How Target Packaged a Turnaround," 20 Aug. 2019 To make shipping more efficient, Shipmonk developed a technology platform that syncs its warehouse operation with management of inventory and shipping. Marcia Heroux Pounds, sun-sentinel.com, "Shipmonk to create more than 400 jobs in Fort Lauderdale," 20 Aug. 2019 Our inventory’s few concessions to a buyer’s impulse to make impulse buys lived by the register, piled in a few short stacks, their spines becoming as familiar to me as the back of a crush’s neck. David Canfield, EW.com, "Get a glimpse into Anthony Bourdain’s legacy in The Last Interview exclusive book excerpt," 19 Aug. 2019 The department store said Wednesday a combination of factors including a fashion miss, slow sell-through of warm weather clothing on top of a worsening climate for tourism led to rising inventory levels. Anne D'innocenzio, Cincinnati.com, "Macy's sends ominous signal for retailers in 2Q," 14 Aug. 2019 Beef prices have declined slightly and inventory is high. Laura Reiley, Washington Post, "President tweets American farmers ‘starting to do great again’ - except they are not.," 23 July 2019 A year after extending Myers’ contract, the team signed Eric Hosmer to a six-year deal for $144 million, in effect moving Myers off first base and back to the outfield, where the young inventory was growing. San Diego Union-Tribune, "Column: Wil Myers remains interesting piece to Padres puzzle," 12 June 2019 Yet like other communities in the region, the township's inventory of for-sale homes is tight right now, and houses that do come up for sale attract multiple bids. Jc Reindl, Detroit Free Press, "These are metro Detroit's top 5 places for first-time home buyers," 7 June 2019

Recent Examples on the Web: Verb

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 There were federal agents all over the house inventorying everything. Katherine Clarke, WSJ, "A Decade on, the Fate of Madoff’s Mansions," 21 June 2018 The audit's second part will inventory current performance venues and examine how the city might expand entertainment and cultural options for Huntsville residents. Matt Wake, AL.com, "Is Huntsville's music landscape set for radical change?," 20 Apr. 2018 West Hollywood has identified more than 800 buildings that could be at risk of damage or collapse in a major earthquake, part of a comprehensive effort to inventory them and require retrofits. Ellis Simani, latimes.com, "More than 800 West Hollywood buildings could collapse in a big quake," 3 May 2018 But to protect its species, researchers need to inventory them. Lizzie Wade, Science | AAAS, "Colombian scientists race to study once-forbidden territory before it is lost to development—or new conflict," 26 Apr. 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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First Known Use of inventory

Noun

15th century, in the meaning defined at sense 1a

Verb

1602, in the meaning defined above

History and Etymology for inventory

Noun

Middle English inventarie, inventorie, from Anglo-French inventaire, inventorie, from Latin inventarium, from inventum thing found, topic, neuter of inventus

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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.