Work-in-process inventory refers to the partially completed materials within a production line. According to the team at Accounting Tools, this term considers the cost of raw materials, direct labor ...

Beginning inventory is the book value of a company’s inventory at the start of an accounting period. It is also the value of inventory carried over from the end of the preceding accounting period.

Julie Young is an experienced financial writer and editor. She specializes in financial analysis in capital planning and investment management. Eric's career includes extensive work in both public and ...

Beginning work-in-process inventory involves determining the value of products that are in production but that have not yet been completed at the end of an accounting period. Work in progress is not ...