Is Inventory a Current Asset?

Yes, inventory is a current asset for accounting purposes.

A current asset is any asset that is expected to provide economic value within one year. Businesses typically do not produce inventory if they do not believe that they will be able to sell it within one year, so inventory is almost always listed as a current asset on the balance sheet. Inventory that is unsold for one year or more may be considered a liability since there are additional costs to store it.