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Work In Process Inventory
An item on the balance sheet that tracks the production process. It refers to stuff in inventory that's not fully made yet and isn't part of finished goods.
Your business has five half-finished tractors in inventory right now because it takes months to complete one. They are evaluated on their value in their current state and added to the balance sheet. Overhead, materials, and labor went into 'em, so they have to be accounted for. Once they're finished, the tractors get listed in regular inventory.
See the Shmoop blurb on working capital for more.