inventory


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Related to inventory: inventory accounting, inventory control, Inventory management, Inventory turnover, inventory valuation

Inventory

An itemized list of property that contains a description of each specific article.

Inventory of a company, for example, is the annual account of stock taken in the business, or the quantity of goods or materials in stock. The term is also used to describe a list made by the executor or administrator of the estate of a deceased individual.

inventory

noun catalogue, checklist, contents, enumeration, index, itemization, itemized list, list, list ofproperties, manifest, merchandise list, record, register, schedule of articles, stock book, stock list, stock sheet, tally sheet
Associated concepts: inventory of assets
See also: check, depository, enumerate, index, inspection, invoice, itemize, relate, roll, schedule, stock, store, tabulate

INVENTORY. A list, schedule, or enumeration in writing, containing, article by article, the goods and chattels, rights and credits, and, in some cases, the lands and tenements, of a person or persons. In its most common acceptation, an inventory is a conservatory act, which is made to ascertain the situation of an intestate's estate, the estate of an insolvent, and the like, for the purpose of securing it to those entitled to it.
     2. When the inventory is made of goods and estates assigned or conveyed in trust, it must include all the property conveyed.
     3. In case of intestate estates, it is required to contain only the personal property, or that to which the administrator is entitled. The claims due to the estate ought to be separated; those which are desperate or had ought to be so returned. The articles ought to be set down separately, as already mentioned, and separately valued.
     4. The inventory is to be made in the presence of at least two of the creditors of the deceased, or legatees or next of kin, and, in their default and absence, of two honest persons. The appraisers must sign it, and make oath or affirmation that the appraisement is just to the best of their knowledge. Vide, generally, 14 Vin. Ab. 465; Bac. Ab. Executors, &c., E 11; 4 Com. Dig. 14; Ayliffe's Pand. 414; Ayliffe's Parerg. 305; Com. Dig. Administration, B 7; 3 Burr. 1922; 2 Addams' Rep. 319; S. C. 2 Eccles. R. 322; Lovel. on Wills; 38; 2 Bl. Com. 514; 8 Serg. & Rawle, 128; Godolph. 150, and the article Benefit of Inventory.

References in classic literature ?
When this inventory was read over to the emperor, he directed me, although in very gentle terms, to deliver up the several particulars.
Put it that I take an inventory, or make a catalogue.
While he spoke he was moving about the sitting-room, which was charmingly furnished in the antique style, and making as many remarks as though he were an auctioneer's clerk with an inventory to prepare and a day to do it in, instead of a cracksman who might be surprised in his crib at any moment.
Little by little, walking swiftly the while, he began to make a rough inventory.
She couldn't wash out the stain; and she couldn't safely destroy the night-gown without first providing another like it, to make the inventory of her linen complete.
Having gone through this very extraordinary performance, he took off the cocked hat again, and, spreading himself before the fire with his back towards it, seemed to be mentally engaged in taking an exact inventory of the furniture.
Pullet, for he had kept her in ignorance of the nature of that transaction, and had explained the necessity for taking an inventory of the goods as a matter connected with his will.
He was, for some days, restrained by business from performing any particular pranks, as his time was pretty well occupied between taking, with the assistance of Mr Brass, a minute inventory of all the goods in the place, and going abroad upon his other concerns which happily engaged him for several hours at a time.
PMC for Windows offers preventive-maintenance scheduling, multi-company cost tracking, work-order generation, inventory control, purchasing (stocked and non-stocked), labor tracking, and custom reporting.
The Wilderness Society inventory gave estimates of both "ancient forest," which contains some but not all of the old-growth characteristics identified in PNW-447, and "old-growth," which has a high probability of meeting all the criteria of PNW-447, including snags and down logs.
What I get with TradeMotion's application is a search method that puts my inventory and price in proximity to my buyer.
Two tax inventory methods, LIFO and uniform capitalization (UNICAP), provide opportunities to decrease the tax carrying cost of inventory and to improve cashflow in the face of these inventory trends.