FR&A Inventory Flashcards
1
Q
Days of Inventory on Hand
A
Days in pd / inventory turnover
2
Q
Gross profit margin
A
The ratio of gross profit to revenues
3
Q
Inventory turnover
A
COGs/ Avg Inv
4
Q
LIFO reserve
A
Difference between reported LIFO inventory carrying amount and the inventory amount that would have been reported if the FIFO method had been used
5
Q
Net realizable value
A
Estimated selling price in the ordinary course of birds less the estimated costs necessary to make the sale
