What do you mean by inventory turnover, Accounting Basics

Assignment Help:

Q. What do you mean by Inventory turnover?

Inventory turnover -- a ratio which indicates amount of inventory a company uses tosupport a given level of sales. Formula is: Inventory Turnover = Cost of Sales ¸ AverageInventory. Numerous businesses have numerous general turnover levels. Ratio is significantin comparison with the ratio for previous periods or ratio for similar businesses.


Related Discussions:- What do you mean by inventory turnover

Accounts payable subsidiary ledger, Accounts payable subsidiary ledger ...

Accounts payable subsidiary ledger Accounts are designed to show balance owed to every creditor. Liability accounts generally have credit balances. Accounts are not assigned nu

High-fiber diet for diverticular disease, Q. High-fiber Diet for diverticul...

Q. High-fiber Diet for diverticular disease? For mild symptoms, a clear liquid diet is recommended. More serious cases may require hospitalization, intravenous feeding to rest

Debtors play its role in accounts receivable, Debtors are the major role of...

Debtors are the major role of the business. He is the whole back bone of the business. The goodwill of the concern is in the hands of debtors because he is the person who takes our

Objective of recording business transactions, Q. Objective of Recording bus...

Q. Objective of Recording business transactions? - Use the account as the essential classifying and storage unit for accounting information. - Articulate the effects of busi

What is marketable securities, Q. What is Marketable securities? Market...

Q. What is Marketable securities? Marketable securities are temporary investments such like short-term ownership of stocks and bonds of other companies. Such investments don't

Functions of balance sheet, The basic functions of a balance sheet are: ...

The basic functions of a balance sheet are: 1. It provides the financial place of a company on any given date 2. It provides the liquidity picture of the concern. 3. It p

Accounting for payroll employer taxes and reports, Accounting for payroll E...

Accounting for payroll Employer Taxes and Reports Everyone who works should have a social security number. All employers in this country who have at least one employee should h

Ledger, basic problems about ledger

basic problems about ledger

Most suitable method of controlling stock in a hotel bar, "Periodic Review"...

"Periodic Review" is the suitable method of controlling stock in hotel bar.

State and local income taxes, State and local income taxes Some states ...

State and local income taxes Some states also withhold state income taxes. Texas doesn't. If state withholds taxes, there will be form similar to the federal one to determine t

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd