Final answer:
Completed items ready for shipment are classified as Finished goods, which are part of a company's inventories and are awaiting sale.
Step-by-step explanation:
The question asks which classification completed items ready for shipment fall under. These completed items are classed as Finished goods. Finished goods are part of a business's inventories, which also include goods still in production (work-in-progress) and raw materials yet to be used. The term 'finished goods' refers specifically to products that are completed and ready for sale but have not been sold yet. These products are what businesses have produced and are now sitting in warehouses or on shelves, awaiting shipment to consumers or retailers. The amount in inventories, such as finished goods, can fluctuate based on how well a business is performing relative to expectations.