FR&A Inventory

Question 1

Days of Inventory on Hand

Answer 1

Days in pd / inventory turnover

Question 2

Gross profit margin

Answer 2

The ratio of gross profit to revenues

Question 3

Inventory turnover

Answer 3

COGs/ Avg Inv

Question 4

LIFO reserve

Answer 4

Difference between reported LIFO inventory carrying amount and the inventory amount that would have been reported if the FIFO method had been used

Question 5

Net realizable value

Answer 5

Estimated selling price in the ordinary course of birds less the estimated costs necessary to make the sale