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Contemporary Mathematics for Busin...

8th Edition
Robert Brechner + 1 other
ISBN: 9781305585447

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BuyFindarrow_forward

Contemporary Mathematics for Busin...

8th Edition
Robert Brechner + 1 other
ISBN: 9781305585447
Textbook Problem

The ideal amount of inventory a company should carry for maximum efficiency is known as the ___________ average inventory. (16-9)

To determine

To fill: The blank spaces provided in the statement, “The ideal amount of inventory a company should carry for maximum efficiency is known as the ______ average inventory”.

Explanation

Trade associations and the federal government publish a wide variety of important industry statistics, ratios, and standards for every size company.

When such inventory turnover figures are available, merchandise managers can use the following formulas to calculate the target average inventory required by their firm to achieve the published industry standards for a company with similar sales volume...

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