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Organic Grocers, Inc: Inventory turnover, performance to ind

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The grocery industry has an annual inventory turnover of about 13 times. Organic Grocers, Inc., had cost of goods sold last year of $11,110,000; its average inventory was $985,800. What was Organic Grocers' inventory turnover, and how does that performance compare with that of the industry?

a) What was the Organic Grocers' inventory turnover? __ times per year
b) How does Organic Grocers' performance compare with that of the industry
Is it the same as, better than, or worse than the industry?

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Solution Summary

The solution computes inventory turnover and compares performation of the same with previous year.

Solution Preview

a) Inventory Turnover = COGS/Avg. Inventory.

Organic Grocer's Inventory Turnover = ...

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