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Inventory is the total collection of stock that a business has at a given time. Different businesses have different kinds of stock, depending upon what they sell or do. Shoe stores stock shoes, grocery stores stock groceries, car washes stock detergent, and so forth. Inventory is important because if you don't have enough you cannot meet the needs of your customers, and if you have too much, then you have invested excess money in your inventory, which is inefficient and also results in higher storage costs and higher inventory taxes. So you need to have the right amount of inventory.

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12y ago

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