Definition of Inventory

Any idle resource held for future use - Those stocks or items used to support production (raw material), supporting activities (drill bits) and customer service (finished goods, spare parts)

The answer is stated below:

Explanation:

Inventory is the term of accounting which is defined as the goods that are used at various stages of being made the items or products ready for the sale. And it comprise of the WIP (Work in progress), which means product is in process of being made, Finished goods, goods or products which are available for the selling and Raw materials, which are used in making the goods more finished goods.

So, the inventory is defined as any kind of idle resource that held for the future use and these items used to support the raw material, customer service and supporting activities.