Where Does Inventory Go on a Balance Sheet?

Inventory is an asset and its ending balance is reported in the current asset section of a company's balance sheet. Inventory is not an income statement account.

Does inventory go in balance sheet?

Inventory is classified as a current asset on the balance sheet and is valued in one of three ways—FIFO, LIFO, and weighted average.

Is inventory an asset or expense?

Your balance sheet lists inventory as an asset, because you spend money on it and it has value. Inventory is defined as anything that you will incorporate for future use in your business operations.