This field in Inventory Maintenance is the record type for this item. This field is required. The default is H.
H = Hardware. The stocking, pricing, and alternate units of measure are the same. For example, you stock, price, and sell hammers by the each.
L = Lumber. The stocking, pricing, and alternate units of measure are different. For example, you stock 1x12 Yellow Pine by the piece, price it by the thousand board foot, and sell it by the board foot.