_____ is the average number of times the inventory is sold per year.
A)Inventory storage
B)Cost of goods sold
C)Cost of goods available for sale
D)Inventory turnover

Question

Quizplus · Accepted Answer

Inventory turnover is the average number of times the inventory is sold per year. Choice A, inventory storage, refers to the physical location where inventory is stored. Choice B, cost of goods sold, refers to the expense associated with selling goods. Choice C, cost of goods available for sale, includes the cost of inventory at the beginning of the period plus the cost of inventory purchased during the period.

_____ Is the Average Number of Times the Inventory Is