VCE Accounting Unit 3. Video of this presentation can be found on my YouTube channel here https://www.youtube.com/channel/UCf5jyuJoYwie8tWfvjEc0zg.

1. 9.1
WHAT IS INVENTORY
(STOCK)?

2. © Michael Allison, Trinity Grammar School. Author’s permission required for external use
 Inventory is another name for stock (or goods)
9.1 WHAT IS INVENTORY (STOCK)?

3. © Michael Allison, Trinity Grammar School. Author’s permission required for external use
 The things businesses buy can be grouped into two groups:
Inventory (stock) – goods which are bought with the intention of reselling
them to earn revenue
Non-Current Assets – items which are bought to be used within the
business for longer than 12 months
9.1 WHAT IS INVENTORY (STOCK)?

4. © Michael Allison, Trinity Grammar School. Author’s permission required for external use
 Example:
Inventory (stock) – goods which are bought with the intention of reselling
them to earn revenue
Non-Current Assets – items which are bought to be used within the business
for longer than 12 months
9.1 WHAT IS INVENTORY (STOCK)?

5. © Michael Allison, Trinity Grammar School. Author’s permission required for external use
 So the inventory (stock) on one business can be the asset of
another (and vice versa)
Inventory (stock) Non-Current Asset
Non-Current Asset Inventory (stock)
9.1 WHAT IS INVENTORY (STOCK)?

6. © Michael Allison, Trinity Grammar School. Author’s permission required for external use
TASK
In-class Homework
SQ1 X