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MATCHING
Match each person with one of the descriptions below.
-Ernest Hemingway
Inventory Turnover Ratio
Indicates how many times a company's inventory is sold and replaced over a certain period, calculated by dividing cost of goods sold by average inventory.
Inventories
Raw materials, work-in-process products, and completely finished goods that are considered to be the portion of a business's assets that are ready or will be ready for sale.
Operating Costs
Expenses associated with the day-to-day functions of running a business, excluding capital expenditures.
Net Sales
Revenue from sales transactions after deducting returns, allowances for damaged goods, and discounts.
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