Work-in-Process is a Term used to describe inventory types in a manufacturing supply chain that are recorded in various stages of the production process. Materials with Raw Materials status typically change status at the time the Goods Issue is recorded (recorded, not performed). Materials with Work-in-Process status typically change status to FG at the time the GR for a production order is recorded.
Alternative names include: In-Process inventory, Goods-in-Process.
Work-in-Process inventory is recorded on the Balance Sheet as an asset.