inventorying


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in·ven·to·ry

 (ĭn′vən-tôr′ē)
n. pl. in·ven·to·ries
1.
a. A detailed, itemized list, report, or record of things in one's possession, especially a periodic survey of all goods and materials in stock.
b. The process of making such a list, report, or record.
c. The items listed in such a report or record.
d. The quantity of goods and materials on hand; stock.
2. An evaluation or a survey, as of abilities, assets, or resources.
tr.v. in·ven·to·ried, in·ven·to·ry·ing, in·ven·to·ries
1. To make an itemized report or record of.
2. To include in an itemized report or record.

[Middle English inventorie, from Medieval Latin inventōrium, alteration of Late Latin inventārium, from Latin inventus, past participle of invenīre, to find; see invent.]

in′ven·to′ri·al adj.
in′ven·to′ri·al·ly adv.
American Heritage® Dictionary of the English Language, Fifth Edition. Copyright © 2016 by Houghton Mifflin Harcourt Publishing Company. Published by Houghton Mifflin Harcourt Publishing Company. All rights reserved.
ThesaurusAntonymsRelated WordsSynonymsLegend:
Noun1.inventorying - making an itemized list of merchandise or supplies on hand; "an inventory may be necessary to see if anything is missing"; "they held an inventory every month"
itemisation, itemization, listing - the act of making a list of items
stocktake, stock-take - an instance of stocktaking; "the auditor did not attend the stocktake or check the valuations"
Based on WordNet 3.0, Farlex clipart collection. © 2003-2012 Princeton University, Farlex Inc.
References in periodicals archive ?
In order to clearly reflect income, the inventory practice of a taxpayer should be consistent from year to year, and greater weight is to be given to consistency than to any particular method of inventorying or basis of valuation....
The task of inventorying forests, which appears at first to be highly scientific and objective, is actually an art as well as a science, especially when definitions and inventory methods are in their formative stages.
1.471-2(b) provides that "to clearly reflect income, the inventory practice of a taxpayer should be consistent from year to year, and greater weight is to be given to consistency than to any particular method of inventorying or basis of valuation." Accordingly, if the method used (1) is based on objective factors that do not leave room for manipulation from year to year, (2) complies with GAAP, (3) is consistently applied from year to year and (4) produces accurate results, it should be considered as clearly reflecting income.