Generally Accepted Accounting Principles (GAAP) recognize three different types of inventory: raw materials, work-in-process and finished goods. Not every type of business carries all three types of ...

Caroline Banton has 6+ years of experience as a writer of business and finance articles. She also writes biographies for Story Terrace. Suzanne is a content marketer, writer, and fact-checker. She ...

Direct materials are the supplies you use to manufacture your inventory: wood for cabinets, steel for girders or wool for coats. Accountants distinguish direct materials from indirect materials, which ...

Will Kenton is an expert on the economy and investing laws and regulations. He previously held senior editorial roles at Investopedia and Kapitall Wire and holds a MA in Economics from The New School ...

Garner Industries was a plastics molder until 2024. Today, as BinMaster Sensors and Technologies LLC, it manufactures BinMaster's line of level measurement sensors and inventory management systems.