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Key Terms Instructions: Please Define the Following Key Terms. Show Who

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Key Terms
Instructions: Please define the following key terms. Show Who? What? Where? When? Why Important?
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Definitions:

Inventory Turnover

Inventory turnover is a ratio that measures how many times a company's inventory is sold and replaced over a specific period, indicating efficiency in inventory management.

Average Daily Cost

The total cost associated with a process or product divided by the number of days in the period being considered.

Days' Sales

A financial metric, often calculated as days sales outstanding (DSO), that measures the average number of days it takes a company to collect payment after a sale has been made.

Retail Method

An inventory valuation method used by retailers that estimates inventory value by applying a cost to retail price ratio.

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