Stocks in trade refer to the assets that a business has on hand that are intended for sale. There are several synonyms for the term "stocks in trade," including inventory, merchandise, goods, products, wares, and commodities. Inventory refers to all the items a business has in stock and is commonly used in accounting purposes. Merchandise is a term often used in a retail setting to describe items that are for sale. Goods, products, and wares are all interchangeable terms and refer to any physical item that is being sold. Commodities can refer to physical items that are traded on the open market, such as oil or gold.