The aftermarket segment of the company I work for is starting to invest in a rotable pool of inventory. This inventory will stay on hand, and when an item comes in for repair, one of the working parts in the pool will be used. Then, the part brought in will be repaired and added to the pool or scrapped if it cannot be repaired. This improves turnaround times with the customer.
However, I can't find any specific guidance on how to account for this pool. One suggestion is as a fixed asset, but should it be part of inventory? We follow IFRS in this company, so I'm not sure if that would be significantly different in approach to US GAAP?