Inventory Stocks
Raw materials, work in process, and finished goods that haven’t been shipped to customers.
Inventory refers to all the goods, items, and materials purchased or manufactured by a business for selling to the customer to make a profit.
What is Included in Inventory
Raw Materials (raw material for making finished goods)
Work-In-Progress (items in the process of making finished goods for sales)
Finished Goods (available for selling to customers)
What Inventory Does Not Include
Consignment goods. Consignment goods are stored and supplied by the manufacturer or supplier. It is a supplier or manufacturer’s inventory.
Goods that you buy to use for your business, for example- a vehicle for delivery, is not your inventory as it is not sold to your customers. It is an asset.
https://www.moneycontrol.com/glossary/stocks/inventory_3470.html
https://www.deskera.com/blog/what-is-inventory/
https://www.wiley.com/en-us/Inventory+Accounting%3A+A+Comprehensive+Guide-p-9780471718727