Inventory Turnover Quiz
Interactive Video
•
Business
•
9th - 10th Grade
•
Hard
Jennifer Brown
FREE Resource
5 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What does a high inventory turnover rate generally indicate for a business?
The business is buying more stock than it sells.
The business is not selling any stock.
The business is selling its stock quickly.
The business is holding stock for a longer period.
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which type of business is likely to have a faster inventory turnover?
A real estate agency
A furniture store
A florist
A car dealership
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the formula for calculating the inventory turnover ratio?
Sales revenue divided by average inventory
Average inventory divided by cost of sales multiplied by 365
Cost of sales divided by average inventory
Average inventory divided by sales revenue
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
How do you calculate the average inventory?
Divide opening inventory by closing inventory
Multiply opening inventory by closing inventory
Add opening and closing inventory, then divide by two
Subtract closing inventory from opening inventory
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
In the example of Tom's Tops, what was the average inventory?
£1,000
£4,000
£2,000
£3,000
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