Short Answer

You must pay Zakāh on merchandise for sale, raw materials, and cash equivalents but not on assets such as machinery, furniture, and buildings. You may calculate the liquidation price since that is what you would actually get if you had to sell off all your products. The price will be determined on the day your Zakah is due.

Version 0.5 | [Shaykh] Mustafa Umar | 5-17-2020