What is the concept and classification of inventory?

According to its economic content classification:

(1) raw materials.

(2) Work in progress.

(3) semi-finished products.

(4) finished products.

5] goods.

[6] Turnover materials.

Once the goods are checked.

Depending on where they are stored:

(1) inventory.

(2) Inventory in transit.

(3) WIP inventory.

According to their storage location.

(1) inventory. Refers to all kinds of inventories that have been accepted and put into storage.

(2) Inventory in transit. Refers to the inventory that has been paid for and is in transit, as well as the inventory that has been delivered to the enterprise but has not been accepted and put into storage.

(3) WIP inventory. Refers to the inventory being processed by the enterprise and the inventory entrusted to other units for processing.