Match the following terms with the appropriate definition.
-The number of times a company's average inventory is sold during an accounting period.
A)Gross profit method
B)Inventory turnover
C)Conservatism principle
D)Consistency concept
E)Consignor
F)Consignee
G)Days' sales in inventory
H)Retail inventory method
I)Specific identification method
J)Lower of cost or market

Question

Quizplus · Accepted Answer

Inventory turnover is defined as the number of times a company's average inventory is sold during an accounting period. This metric helps businesses understand how efficiently they are managing their inventory.

Match the Following Terms with the Appropriate Definition