ACCRUED INVENTORY Definition

Bookmark and Share

ACCRUED INVENTORY functions as a "clearing" account to establish a liability for inventory physically received into the warehouse, but for which a vendor invoice had not yet arrived.

Learn new Accounting Terms

MISCELLANEOUS is a grouping consisting of a haphazard assortment of different kinds.

CUSTODY is possession.

Suggest a Term

Enter Search Term

Enter a term, then click the entry you would like to view.