5. Inventory Type
From TrueERP wiki
Inventory Type
Inventory types consist of raw material, work-in-process and finished goods which are held by a business in ordinary course of business, either for sale or for the purpose of using them in the process of producing goods and services.
Inventory Type- Do you understand how an "Inventory" type product works?
Inventory Type – track products for inventory of all Purchases, Sales & Asset accounts.
There are 3 accounts relating to inventory:
1. COGS – Cost of Goods Sold
2. Inventory / Inventory Asset
3. Inventory / Sales
