Based on the following information, compute (a) Inventory turnover; (b) Average daily cost of merchandise sold using a 365 day year; and (c) Number of days' sales in inventory.
Definitions:
Future Sales
Anticipated or projected revenue from the sale of products or services in upcoming periods.
Margin Lost
The reduction in the potential profit margin due to factors such as discounts, errors, or inefficiencies.
Understocking
A situation where inventory levels are too low, potentially leading to lost sales and customer dissatisfaction.
Responsive Strategies
Responsive strategies are tactics adopted by businesses to quickly react to changes in market conditions or consumer preferences to stay competitive.
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