A company's inventory consists of all its raw materials, works in process (goods that are partially completed), completed goods, and merchandise that has been purchased and is being held for sale, ...

At the end of every year or other accounting period, accounts dealing with inventory require some adjustments. The purpose of making these adjustments is to update account balances so that they ...

Understand adjusting entries for accounting purposes, how they are made and what they impact. Many, or all, of the products featured on this page are from our advertising partners who compensate us ...