Suppose this information is available for PepsiCo, Inc. for 2023, 2024, and 2025. (in millions) Beginning inventory Ending inventory Cost of goods sold Sales revenue (a) 2023 $1,926 2,290 2024 $2,290 $2,522 2,618 2,522 2025 18,038 20,351 39,474 43,251 43,232 20,099 2023 Calculate the inventory turnover for 2023, 2024, and 2025. (Round inventory turnover to 1 de 2024

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Inventory Valuation

Before discussing the topic inventory valuation let’s discuss the meaning of inventory. In accounting, inventory is also known as stock. Inventory means all the finished goods, materials, merchandise that a business holds for the purpose of selling it in the market with the motive of earning profit.