INTERVIEW QUESTIONS COST ACCOUNTING MATERIAL COST CONTROL DETAILS

Question: How is Inventory Turnover Ratio calculated?

Answer: These are calculated to minimise the inventory by the use of the following formula:
Inventory Turnover Ratio = Cost of goods consumed/sold during the period/Average inventory held during the period

These are calculated to minimise the inventory by the use of the following formula:
Inventory Turnover Ratio = Cost of goods consumed/sold during the period/Average inventory held during the period
Source: CoolInterview.com

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