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🌟 what is mean by inventory turnover ratio why we using these kind of ratio in company what is the formula for this
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Quick Summary
Purpose of inventory turnover is to.ascertain the proportion of stock to cost of goods sold.
If I can determine that I can ascertain whether my stock holding is high or low in proportion to the turnover.
Here cost of goods sold is determined to negate the profit from turnover.
If I can determine that I can ascertain whether my stock holding is high or low in proportion to the turnover.
Here cost of goods sold is determined to negate the profit from turnover.
Inventory turnover ratio is equal to cost of stock of material consumed / average stock of material.....this formula is correct or not..
Not cost of stock of material.
Could you plse tell me the forumala
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