Asked by Jesse Francis on Jun 03, 2024
Verified
______________ is calculated as cost of goods sold divided by average inventory.
Inventory Turnover
A ratio that shows how quickly a company's inventory is sold and replaced over a specific period, indicating the efficiency of inventory management.
- Compute the rate of inventory turnover and the number of days inventory remains.
Verified Answer
ZK
Learning Objectives
- Compute the rate of inventory turnover and the number of days inventory remains.
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