What Is Inventory Turnover? - Definition, Formula & Calculation

Instructions:

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question 1 of 3

What period of time does inventory turnover typically refer to?

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1. What does the acronym COGS mean?

2. If you have high inventory turnover, what does that imply?

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About This Quiz & Worksheet

Students who are interested in taking this quiz/worksheet can check their understanding of inventory turnover. It will test students on the definition of turnover, high turnover versus low turnover, and the way turnover is calculated.

Quiz & Worksheet Goals

Students who take this quiz should be familiar with these topics:

  • Period of time of inventory turnover
  • Meaning of COGS
  • How to calculate inventory turnover
  • Definition of low inventory turnover

Skills Practiced

If you take this quiz/worksheet, you will be improving the following skills:

  • Reading comprehension - draw key information from the related business lesson
  • Distinguishing differences - compare and contrast high versus low inventory
  • Information recall - access the knowledge you've gained regarding how to calculate inventory turnover

Additional Learning

For more information, students can check out the related lesson called What Is Inventory Turnover? - Definition, Formula & Calculation. It will help students meet the following objectives:

  • Define inventory turnover
  • Understand the inventory turnover formulas
  • Learn how to calculate inventory turnover
  • Differentiate between low and high turnover
  • Define gross profit
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