What Does It Mean If Inventory Turnover Changes from 4

question 33

Multiple Choice

What does it mean if inventory turnover changes from 4 times a year to 5 time a year?

• A)on average, it is taking longer to sell inventory.
• B)on average, inventory is being sold faster.
• C)inventory turnover is too slow.
• D)inventory turnover is faster than the industry average.

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Definitions:

Maslow's Hierarchy

A theory in psychology proposed by Abraham Maslow in 1943, which outlines a five-tier model of human needs, arranged in a hierarchy.

First Level

The initial or elementary stage in a series or categorization system.

Physical and Economic Survival

The requirement for basic necessities that sustain life and the financial means to secure these necessities.

Understanding Others

involves the ability to empathize and comprehend the thoughts, emotions, and behaviors of others, fostering better interpersonal relationships.