A company reports the following:
Determine the a inventory turnover,and b number of days' sales in inventory.Round your answer to one decimal place.
Definitions:
Average Product
Average Product is the output per unit of input, calculated by dividing total product by the quantity of the input.
Marginal Product
The additional output that is produced by adding one more unit of a specific input, while holding other inputs constant.
Average Product
In economics, the output produced per unit of input, used to measure productivity efficiency.
Marginal Product
The increase in output that results from a one-unit increase in the input, holding all other inputs constant.
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