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Practice Questions
Test your understanding with targeted questions related to the topic.
Question 1
Easy
What is the formula for the Inventory Turnover Ratio?
💡 Hint: Think about how inventory relates to sales.
Question 2
Easy
What does a higher inventory turnover ratio indicate?
💡 Hint: It has to do with how quickly inventory is moving.
Practice 4 more questions and get performance evaluation
Interactive Quizzes
Engage in quick quizzes to reinforce what you've learned and check your comprehension.
Question 1
What is the Inventory Turnover Ratio formula?
💡 Hint: Remember how inventory relates to sales speed.
Question 2
True or False: A higher inventory turnover ratio is always preferred.
- True
- False
💡 Hint: Consider the balance required in inventory management.
Solve 2 more questions and get performance evaluation
Challenge Problems
Push your limits with challenges.
Question 1
A fashion retailer had a COGS of $400,000 and average inventory of $100,000. Calculate their inventory turnover ratio and interpret what it indicates about their inventory management.
💡 Hint: Use the ITR formula and reflect on what a 4 means in context.
Question 2
Discuss a company scenario where the inventory turnover ratio is low, such as in seasonal industries. What strategies could they implement to improve the ratio?
💡 Hint: Think of how seasonal demand affects inventory and how to plan around it.
Challenge and get performance evaluation