Gross profit is $40,000; beginning inventory is $16,500; ending inventory is $20,800; and sales are $120,000. The industry average has an inventory turnover of 4.8. How is the company doing with its inventory management as compared to the industry?

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The Answer of Gross profit is $40,000; beginning inventory is $16,500; ending inventory is $20,800; and sales are $120,000. The industry average has an inventory turnover of 4.8. How is the company doing with its inventory management as compared to the industry?

Gross Profit Is $40,000; Beginning Inventory Is $16,500; Ending Inventory