Inventory Turnover Can Be Calculated By

question 23

Multiple Choice

Inventory Turnover can be calculated by:

• A)Ratio of average inventory cost over cost of goods sold
• B)Ratio of cost of goods sold over average inventory cost
• C)Ratio of inventory days in stock over average inventory cost
• D)Ratio of average inventory cost over inventory days in stock

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Definitions:

Producer Surplus

The difference between what producers are willing to accept for a good or service versus what they actually receive in the market.

Producer Surplus

The difference between the amount that producers are willing to accept for a good or service versus what they actually receive.

Consumer Surplus

The difference between the maximum price a consumer is willing to pay for a product and the actual market price they pay.

Government Revenue

The money received by a government from taxes, fees, fines, intergovernmental grants, and other sources to fund public spending.