(1) Raw materials refer to all kinds of raw materials, main materials, auxiliary materials, outsourced semi-finished products (outsourced parts), spare parts for repair (spare parts), packaging materials, fuel, etc. They are processed and changed in the production process to form the main entity of the product. Although all kinds of materials reserved for the construction of fixed assets belong to the same material as other projects, they cannot be accounted for as enterprise inventory because they are used for the construction of fixed assets and other projects and do not meet the definition of inventory.
(2) Work-in-process refers to the semi-finished products being manufactured by the enterprise, including products being processed in each production process, and products that have been processed but have not been inspected or passed the inspection but have not yet gone through the warehousing procedures.
(3) Semi-finished products refer to intermediate products that have passed a certain production process and passed inspection, but have not yet been made into finished products and still need further processing.
(4) Finished products refer to products that have been completed, accepted and put into storage by industrial enterprises, and can be delivered to the ordering unit according to the conditions stipulated in the contract, or can be sold as commodities. When an enterprise accepts the substitute products processed and manufactured by foreign raw materials and the substitute products processed and repaired for other units, its manufacturing and repair shall be regarded as the finished products of the enterprise after acceptance and storage.
(5) Commodities refer to all kinds of commodities purchased or entrusted by commodity circulation enterprises and put into storage for sale.
(6) Turnover materials refer to materials that can be used for many times and gradually transfer value, but still remain in their original form and are not recognized as fixed assets, such as packaging materials and low-value consumables. Among them, packaging refers to all kinds of packaging containers reserved for packaging the goods of the enterprise, such as barrels, boxes, bottles, cans, bags and so on. Its main function is to dress up and decorate products or commodities. Low-value consumables refer to tools, management appliances, glassware, labor protection articles, containers and other appliances and articles that do not meet the conditions for the confirmation of fixed assets.