Microsoft Lists - Inventory Tracking List Question

I have built a List to keep information about and keep track of a large number of pieces of technical field service testing equipment. Some of the items in the list are singular pieces of equipment (i.e. one handheld combustion analyzer), while others are service kits which contain a number of individual pieces of equipment (i.e. multiple different Fluke test instruments, handheld pressure pumps for calibrating instruments, digital pressure gauges, etc.).

My List is currently built to treat each kit as a singular item, with one status indicator (Available, Checked Out, Permanently Assigned to Tech, Needs Repair, etc.). I would like to be able to individually list all of the components in each kit as individual items in the list, but keep them grouped together as one kit. For example, if one piece of equipment inside the kit is sent out for repair or calibration, that can be noted on that item individually, but the rest of the kit as a whole can still have it's own status, parameters, etc.

What is the best way to accomplish this? Enabling the creation of Folders in the List and create each kit as a Folder and then list the individual pieces of equipment inside the kit as list items within that folder?

Your suggestions as to best practices and best way to accomplish this greatly desired.