Inventory Class is a type of business classification system that helps organizations organize, track, and manage their inventory. This system utilizes specialized accounting methods to assign value to stock and equipment. It’s an essential element in any kind of retail business where you need to purchase items in bulk and need to keep track of what has been purchased, sold, or returned. Inventory Class also helps businesses to understand the cost of goods sold, so they can accurately measure their profits and losses. By giving each item its own unique classification, businesses can easily monitor their assets with accuracy and efficiency.