Question: 3. b. State the difference between the key inventory indicators; Inventory Turns Ratio and Days of Inventory Outstanding. Income statement of Alexa Corporation from 2019

3. b. State the difference between the key inventory indicators; Inventory Turns Ratio and Days of Inventory Outstanding. Income statement of Alexa Corporation from 2019 showed the cost of goods sold (COS) was $39.40 million, and its average inventory value during the same period was $8.32 million.

Calculate the companys number of Inventory Turns Ratios (ITR) for that year and Days of Inventory Outstanding (DIO). (10 Marks)

The above question carries 10 marks. And as per the guidelines of the university, the answer should be a min of 500 Words. Please prepare a min of 500 words answer

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