Stock piles of inventory is no longer considered an asset. It is a liability until it is sold dumb fuck. If you have no one to sell it you make no money. You sit on your inventory all you want and when you can't sell it tell me it is an asset. Did you graduate in 1982? I don't need to google terms but you should try understanding new evaluations of present day accounting.
Unsold inventory is an asset, classified as an asset. The liability tied to raw bacteria is and other finished products waiting fir sake us called Accounts Payable. Inventory (asset)gets sold, converted to cash (or accounts receivable). The sale gets recognized on the income statement, and Assets gets reduced by the amount that was sold. The cash pays the accounts payable (liability), and the profit is shown on income statement, and accrues as equity. But you knew that already. Not.
Unsold inventory might be seen as a problem or a burden yes true, but in accounting land, you're not only wrong, you are a silly person fir choosing to remain ignorant. Name calling and F bombs dint make you correct.
Look it up. All the unsold things on a grocery store shelf are assets, waiting to be sold, that us,
Let's follow your logic though: what would raw materials be, you know the pieces and parts of stuff that make up a widget?
And you, as a sales employee, would show up as "selling expense", on an income statement.
But, let's follow you: show us a link from ANY source that shows "sales employee" on a balance sheet in ANY industry, with sakes employee showing as a financial asset. Also, show any link where inventory is classified as a financial liability.
Sorry mate, but you've been profoundly misinformed,and then F bombs added. For shame.
If you own an iphone, it's your asset, if you decide to sell it, it's still an asset til you sell it, then the new cash is also an asset.
But you knew that already, you're just teasing us.
