Can you define consignment inventory?

Inventory which is legally owned by a party but is in possession of another party .
Consignment agreements will have different terms and conditions.
However, applying the general principles of substance over form, the inventory should be recognized as an asset by the party who has the risks and rewards.

This is an inventory that is in the possession of the customer, but still owned by the supplier

is stock legally owned by one party, but held by another.

Consigned inventory is the property of the consignor, not the consignee, until it is sold by the consignee.
In other words, goods on consignment are included in the inventory of the consignor (i.e., seller) while they are excluded from the consignee’s (i.e., buyer’s) inventory.
Consignee does not own the inventory but agrees to exercise due diligence in holding and selling consigned merchandise.

المخزون هو البضاعه التى يتم تخزينها لاغراض بيعها