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The View from Space, page-91

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niu

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05/11/18

13:13

Post #: 36391631
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Originally posted by butcherboy ↑

Originally posted by butcherboy
I'm confused about the term "inventory". I assume this refers to brine in ponds. (Please correct me if I am wrong here. I'm assuming the brine cannot be stored anywhere else.) But can it really be referred to as inventory when (I assume) it is partially concentrated so it can't be used in processing, so in reality it is only partial inventory. What I'm saying is, it's not like an inventory of stock like widgets that are fully formed and can be sold at any time. Or am I being overly pedantic?
I've answered my own question. The partially concentrated brine would be referred to as the following categories of inventory:

"Raw materials – materials and components scheduled for use in making a product." or "Work in process, WIP – materials and components that have begun their transformation to finished goods."

https://en.wikipedia.org/wiki/Inventory

(Sorry, I don't have a manufacturing or wholesaling background! )

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Yes. Definitely WIP. And it carries a significant value due to the liming step.

ORE Price at posting: $4.17 Sentiment: Buy Disclosure: Held
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