Inventories, per paragraph 6 of IAS 2 are assets that are
- Held for sale in the ordinary course of business
- In the process of production for such sale; or
- In the form of materials or supplies to be consumed in the production process or in the rendering of services.
Inventories per IAS 2 comprise
b) Production Supplies
d) Work in Progress
e) Finished Goods authorized for issue.