Inventory Turnover Is Calculated by Dividing Average Inventory by Cost

question 67

True/False

Inventory turnover is calculated by dividing average inventory by cost of goods sold.

---

Definitions:

Traditional Sources

Established and customary origins of information or evidence.

Legitimacy

Legitimacy in sociopolitical terms refers to the recognition and acceptance of an authority, often a governing law or régime, as rightful and valid.

Authority Figures

Individuals who hold power or authority in a society, often responsible for making decisions and enforcing rules.

Leadership Style

The manner and approach of providing direction, implementing plans, and motivating people within organizations or groups.