Apply a bead of glue along one side of center piece of wood (Image 1). Quickly spread glue with a fingertip then lay it flat and butt against right-side piece (Image 2). Apply glue to right side of left piece, spread with fingertip and butt against left side of center piece (Image 3). Make sure edges are lined up.
To figure taxable income, you must value your inventory at the beginning and end of each tax year. To determine the value, you need a method for identifying the items in your inventory and a method for valuing these items.
The costs of those goods not yet sold are deferred as costs of inventory until the inventory is sold or written down in value. No, it is not an asset, it is charged against revenue basically as an expense. Cost of goods manufactured, if not sold is inventory which is an asset.