Principles Of Marketing
17th Edition
ISBN:9780134492513
Author:Kotler, Philip, Armstrong, Gary (gary M.)
Publisher:Kotler, Philip, Armstrong, Gary (gary M.)
Chapter1: Marketing: Creating Customer Value And Engagement
Section: Chapter Questions
Problem 1.1DQ
Related questions
Question
Describe how might inventory turnover shed light on an organization competitiveness and efficiency?
Expert Solution
Step 1
The inventory turnover proportion indicates the number of times a firm is capable to convert its inventory over. It can be calculated by taking the proportion of the cost of goods sold for a particular period and the mean inventory for the same period as follows.
Inventory turnover = Cost of good sold/
Average inventory
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