Had the denominator been higher than the numerator, it would mean an inventory pile-up or lower efficiency in the management of the same, which would need to be investigated further to find out the causes and rectify them. The most common measures of corporate turnover look at ratios involving accounts receivable and inventories. WebTranscribed Image Text: Average Inventory, Inventory Turnover Ratio, Inventory Turnover in Days Belt Company had net sales of $1,891,675,000 and cost of goods sold of When you sell inventory, the balance is moved to the cost of sales, which is an expense account. Here, the company turns over its inventory 10 times per month. The details from the companys profit and loss statement are per below-. If a fund's turnover ratio is significantly out of line with that of comparable funds, that might be something to note. Asset turnover ratio measures the value of a companys sales or revenues generated relative to the value of its assets. In this example, we are given a profit and loss statement, and we need to figure out the cost of goods sold and average inventoryAverage InventoryAverage Inventory is the mean of opening and closing inventory of a particular period. It can be calculated using the below steps: Lets see some simple to advanced practical examples to understand it better..free_excel_div{background:#d9d9d9;font-size:16px;border-radius:7px;position:relative;margin:30px;padding:25px 25px 25px 45px}.free_excel_div:before{content:"";background:url(https://www.wallstreetmojo.com/assets/excel_icon.png) center center no-repeat #207245;width:70px;height:70px;position:absolute;top:50%;margin-top:-35px;left:-35px;border:5px solid #fff;border-radius:50%}. For example, the industry average is 17.62 for retail and 9.98 for energy. Where: Cost of Goods Sold Cost of Goods Sold or COGS off the income statement. The ratio seeks to reflect the proportion of stocks that have changed in one year. The average sales turnover rate has been reported as high 35%. Say that most funds following a particular index have turnover ratios around 5%, and one fund posted 25% turnover in one year. Sales turnover is restricted to revenue generated from operations. However, the general rule of thumb is that the higher the AR ratio, the better. A company with a high asset turnover ratio operates WebStock Turnover Ratio Formula. The asset turnover ratio formula is equal to net sales divided by the total or average assets of a company. Therefore, cash and cash equivalents should be an average amount of the last accounting period and the current accounting period. AssetTurnover=TotalSalesBeginningAssets+EndingAssets2where:TotalSales=AnnualsalestotalBeginningAssets=AssetsatstartofyearEndingAssets=Assetsatendofyear\begin{aligned} &\text{Asset Turnover} = \frac{ \text{Total Sales} }{ \frac { \text{Beginning Assets}\ +\ \text{Ending Assets} }{ 2 } } \\ &\textbf{where:}\\ &\text{Total Sales} = \text{Annual sales total} \\ &\text{Beginning Assets} = \text{Assets at start of year} \\ &\text{Ending Assets} = \text{Assets at end of year} \\ \end{aligned}AssetTurnover=2BeginningAssets+EndingAssetsTotalSaleswhere:TotalSales=AnnualsalestotalBeginningAssets=AssetsatstartofyearEndingAssets=Assetsatendofyear. Hence, Average inventory = Average of $44,269 and $43,783 = $44,026. These ratios are used by fundamental analysts and investors to determine if a company is deemed a good investment. Belt had the following balances: December 31 $315,000,000 Inventories Required: January 1 $385,250,000 Assume 365 days per year. Last Updated: 30.11.2022. If the company has a strict 30 days payment policy, this ART ratio is within the payment period. Amy is an ACA and the CEO and founder of OnPoint Learning, a financial training company delivering training to financial professionals. In this example, we are given Average Revenue and closing stock. Malaysia business and financial market news. Financial analysis is ananalysisof finance-related projects/activities, company's financial statements (balance sheet, income statement, and notes to accounts)or financial ratios to evaluate the company's results, performance, and trends, which is useful for making significant decisions such as investment, project planning and financing activities. Gordon Scott has been an active investor and technical analyst of securities, futures, forex, and penny stocks for 20+ years. On a different note, as you collect valuable data from multiple years, you can pinpoint specific trends that display slow and spike periods. To start with, sales turnover accounts for the total revenue a business generates during a given timeframe. So, Statista. The goal is to maximize sales, minimize the receivable balance, and generate a large turnover rate. They add the cost of starting inventory to the ending. Download Stock Turnover Ratio Formula Excel Template, Corporate valuation, Investment Banking, Accounting, CFA Calculation and others (Course Provider - EDUCBA), * Please provide your correct email id. Inventory Turnover Ratio measures how fast the company replaces a current batch of inventories and transforms them into sales. Gross Profit Margin is the ratio that calculates the profitability of the company after deducting the direct cost of goods sold from the revenue and is expressed as a percentage of sales. By contrast, turnover can refer to how quickly a company either has sold its inventory or is collecting payments compared with sales over a specific time period. We also reference original research from other reputable publishers where appropriate. Competitive advantages are conditions that allow a company or country to produce a good or service at a lower price or in a more desirable fashion for customers. CFA And Chartered Financial Analyst Are Registered Trademarks Owned By CFA Institute. Georgia State University College of Law. For example, a mutual fund that invests in 100 stocks and replaces 50 stocks during one year has a turnover ratio of 50%. A company may be tempted to report projected sales turnover based on an extension of historical sales. Accessed Sept. 8, 2020. The asset turnover ratio is a measure of how well a company generates revenue from its assets during the year. It helps the management to understand the inventory that a business needs to hold during its daily course of business. The offers that appear in this table are from partnerships from which Investopedia receives compensation. The ideal scenario is to have a high sales turnover. This metric helps investors understand how effectively companies are using their assets "The Long and the Short: Portfolio Turnover Ratios and Mutual Fund Investment Time Horizons," Page 598. Get all the latest India news, ipo, bse, business news, commodity only on Moneycontrol. The turnover ratio varies by the type of mutual fund, its investment objective, and/or the portfolio manager's investing style. This ratio helps improve inventory management as it tells about the speedy or sluggish flow of inventory being utilized to create sales. It signifies how well a company is generating its sales concerning the working capital. Why is calculating your sales turnover important? The standard salary to commission ratio is 60:40 with 60% being the base rate and 40% being commission-driven. Essentially, this ratio is genuinely useful Nevertheless, in some individual cases, a low sales turnover rate against very high margins might work. Investors use the asset turnover ratio to compare similar companies in the same sector or group. After calculating sales turnover, brands can identify the right production levels to help prevent overstock or shortage of items. After estimating the measure, company owners can decide what steps to take next: produce more products or change their strategy to win more clients. Inventory turnover: Inventory turnover, also known as sales turnover, is the rate at which a business makes and sells off its inventory within a specific amount of time. Consider the following inventory turnover example: A company has $100,000 in sales in one month and average inventory of $10,000. From an investment perspective, a low price-to-sales ratio (1.0 or less) may indicate a good buy with a stock price that is undervalued. Asset Turnover Ratio= $4; This indicates that for company X, every dollar invested in assets generates $4 in sales. Where, The cost of goods sold Cost Of Goods Sold The Cost of Goods Sold (COGS) is the cumulative total of direct costs incurred for the goods or services sold, including direct expenses like raw material, direct labour cost and other direct costs. These include white papers, government data, original reporting, and interviews with industry experts. The revenue included in this calculation is from both cash sales and credit sales. The rate of a company replacing inventory in a given period due to sales is known as Inventory Turnover. Internal Revenue Service. The turnover ratio varies by the type of mutual fund, its investment objective, and/or the portfolio manager's investing style. Calculate the average inventory. Working Capital Turnover Ratio Formula. Such phone number is already registered.You can Login or Restore a password. Calculating sales turnover helps business owners make sure that they have enough products for their customers. For example, the average turnover ratio for managed mutual funds is 75115%. So a conservative-minded equity investor might target funds with turnover ratios under 50%. Check out how to calculate sales turnover for your business. Was there some change in the fund objective? The Cost of Goods Sold (COGS) is the cumulative total of direct costs incurred for the goods or services sold, including direct expenses like raw material, direct labour cost and other direct costs. Asset turnover: Asset turnover is a measure of how a business uses its assets to generate revenue, such as by selling off an asset at the end of its useful life. Your password should be from 8 to 48 characters long, contain at least one uppercase letter, one lowercase letter, and a number. The accounts receivable turnover formula tells you how quickly you are collecting payments, compared with your credit sales. High turnover often results in increased costs for the fund due to the payment of spreads and commissions when buying and selling stocks; increased costs impact a fund's return overall. Asset Turnover Ratio = $96,500 / $27,500. #4 Asset Turnover Ratio This is an activity ratio Activity Ratio Activity Ratios measure the organizational efficiency to utilize its various operating assets (as shown in the balance sheet) to generate sales or cash. SendPulse uses cookies to enhance your browsing experience. Stock Turnover Ratio Formula = Cost of Goods Sold /Average Inventory. Profit refers to a companys total revenues minus its expenses. You should agree with our Anti-Spam Policy. find out new effective advertising strategies; calculate the number of items purchased and available. The next step is calculating the average inventory. For example, a stock market index fund usually will have a low turnover rate since it duplicates a particular index, and the component companies in indexes don't change that often. Accounts receivable turnover shows how quickly payments are being collected compared with credit sales during a certain time period, such as a month or a year. Actively managed mutual funds with a low turnover ratio reflect a buy-and-hold investment strategy; those with high turnover ratios indicate an attempt to profit by a market-timing approach. It helps the management to understand the inventory that a business needs to hold during its daily course of business.read more as well. Company X is trying to evaluate three products currently selling in the market. A mutual fund's turnover ratio shouldn't be the sole basis of a decision to invest or devest in it. As an example, if the cost of sales for the month totals $400,000 and you carry $100,000 in inventory, the turnover rate is four, which indicates that a company sells its entire inventory four times every year. Turnover is a term that is also used for investments. If the situation asks for it, you might choose to break down the measurement by geographic region, units sold, subsidiary, and so on. It reports a net sales revenue of $75,000 and a gross profit of $35,000 on its income statement for the year 2022. What Constitutes a "High Fee" for a Mutual Fund? You can learn more about the standards we follow in producing accurate, unbiased content in our. Nevertheless, it can be a strategy of stock building done knowingly. Conversely, a low ratio indicates weak sales, lackluster market demand or an inventory glut. Also, the company is required to submit a certain ratio, including the stock turnover ratio. The following is a partial balance sheet and income statement of the company: The companys 2013 cash turnover ratio is calculated as $118,086 / (($150,000 + $181,210) / 2) = 0.71x. Revenue defines the amount of money a brand receives from selling its products. Working capital represents the difference between a companys current assets and current liabilities. Funds with high turnover ratios might incur greater transaction costs (such as trading fees and commissions) and generate short-term capital gains, which are taxable at an investorsordinary incomerate. Moving on to the reasons why you should consider calculating the sales turnover on a regular basis, there are several aspects worth noting. depicts how much of a portfolio has been replaced in a year. Essentially, this ratio is genuinely useful for all types of businesses, allowing them to track sales trends through numerous measurement periods. Working capital turnover = Net sales Average working capital Amount of operating capital needed to maintain a given sales level Benchmark: PG, HA Fixed asset turnover = Net sales Average net fixed assets Efficiency of fixed assets (productive capacity) in generating sales Benchmark: PG, HA Asset turnover = Net sales Average total assets These are called accounts receivable turnover and inventory turnover. Using the cash turnover ratio for companies that offer credit sales skews Overall turnover is a synonym for a companys total revenues. Is a stock to sales ratio of 1.0 good or bad? If a portfolio's turnover ratio exceeds 100%, it doesn't necessarily mean that every single holding has been replaced, however. Since people often misinterpret these terms and use them interchangeably, we need to uncover the difference. The inventory turnover formula is: inventory\ turnover=cost\ of\ goods\ sold/average\ inventory inventory turnover = cost of goods sold/average inventory. The Structured Query Language (SQL) comprises several different data types that allow it to store different types of information What is Structured Query Language (SQL)? How do I calculate inventory turnover? WebSales Turnover Ratio. Sales turnover is often confused with revenue, and while these terms are related, they are two different measures used to determine the success of a company. In most cases, a good turnover ratio in retail is between 2 and 4. It can happen when a company has many orders and insufficient stock to fulfill them. So, it is relevant to know the importance of Stock Purchasing and sales. Also, the more portfolio turnover in a fund, the more likely it will generate short-term capital gains, which are taxable at an investor's ordinary-income rate.. Those companies show sustained profitability, strong balance sheets, global expansion, and above-average earnings growth, in keeping with the fund's objective of capital preservation. It unveils the effectiveness of inventory management and helps control it. The cost of sales can replace the cost of goods sold. This tells you how many days it takes, on average, to completely sell and replace a companys inventory. CFI is the official provider of the global Financial Modeling & Valuation Analyst (FMVA) certification program, designed to help anyone become a world-class financial analyst. In the investment industry, turnover is defined as the percentage of a portfolio that is sold in a particular month or year. Raw materials, work in progress, and final goods are all included on a broad level. It may include products getting processed or are produced but not sold. What is Inventory Turnover Ratio? Accessed Sept. 8, 2020. Walmart, the US retailer giant, is an example of the best inventory management system. These courses will give the confidence you need to perform world-class financial analyst work. IRS. For most sectors, a reasonable inventory turnover ratio ranges between 5 to 10. Dividing Cost of goods sold by the average inventory. Cost of Goods Sold=Opening Stock + Net Purchases Closing Stock, = 3,500,000 + ( 21,350,000 320,250 ) 4,200,000, Average Stock = ( Opening Stock + Closing Stock ) / 2. This ratio measures the efficiency of a firm in managing and collecting the credit issued to the customers. Stock turnover ratio is a critical measure for a company and is widely used in financial analysisFinancial AnalysisFinancial analysis is ananalysisof finance-related projects/activities, company's financial statements (balance sheet, income statement, and notes to accounts)or financial ratios to evaluate the company's results, performance, and trends, which is useful for making significant decisions such as investment, project planning and financing activities.read more; however, it has certain limitations; This article has been a guide to Stock Turnover Ratio and its meaning. The AR Turnover Ratio is calculated by dividing net sales by average account receivables. The inventory turnover formula, which is stated as the cost of goods sold (COGS) divided by average inventory, is similar to the accounts receivable formula. It is equal to the previous accounting period's closing stock, valued in accordance with appropriate accounting standards based on the nature of the business.read more information, we can take closing stock as a proxy for our computation purposes. What is a good account receivable turnover ratio? Hope that our guide will come in handy when estimating it for your company. Inventory turnover ratio measures the rate of sales and replenishment of an item over time. A mutual fund is an investment vehicle consisting of a portfolio of stocks, bonds, or other securities, overseen by a professional money manager. Annual turnover is the percentage rate at which a mutual fund or exchange-traded fund replaces its investment holdings on an annual basis. You can Login or Restore a password. Turnover is an accounting concept that calculates how quickly a business conducts its operations. The cash turnover ratio is most appropriate for companies that do not offer credit sales. This is a ratio factor that shows how well a company uses the assets at its disposal in fueling sales. What Is the Sales Turnover Formula? Sales are calculated by multiplying the units sold by the price. Sales turnover is the summation of all sales made within a year. It includes both credit and cash sales. Sales turnover is dependent upon the method of accounting. If the accounting is on a cash basis, then the sale is recorded when the cash is Also a profitability ratio, the gross margin ratio compares a business gross margin to its net sales, measuring if a Read more, The Unit Sales to Average Market Unit Sales metric is used by businesses to determine and track the total sales Read more, Trial Accounts refer to those customers that are interested and committed to your product. This statement is used by the stakeholders and shareholders as it affects their investing decisions.read more and Income statementIncome StatementThe income statement is one of the company's financial reports that summarizes all of the company's revenues and expenses over time in order to determine the company's profit or loss and measure its business activity over time based on user requirements.read more for Walmart. Once you determine what your average accounts receivable is, identify your net credit sales. The companys working capital is the difference between the current assets and current liabilities of a company. If you are interested in "What is Sales Turnover: Formula", you might be interested in trying our bulk email service. CFA Institute Does Not Endorse, Promote, Or Warrant The Accuracy Or Quality Of WallStreetMojo. Net sales is the total amount of revenue retained by a company. The BNY Mellon Appreciation Fund from Fidelity (DGAGX) has a strong buy-and-hold strategy in mostly blue-chip companies with total market capitalizations of over $5 billion at the time of purchase. The inventory turnover ratio is an effective measure of how well a company is turning its inventory into sales. Additionally, accumulating cash for future acquisitions skews the cash turnover ratio lower. The formula for Trade receivables turnover ratio or Accounts receivable turnover ratio is represented as follows. In this instance, investors might want to ask why: Did a new portfolio manager come in and clean house? The concept is useful for tracking sales levels on a trend Because the inventory turnover ratio uses cost of sales or COGS in its numerator, the result depends crucially on the companys cost accounting policies and is Closing stock or inventory is the amount that a company still has on its hand at the end of a financial period. Of course, being interested and committed Read more, Each new product made by a company will come with its own costs costs which will leave a hole Read more, Learn how Profit can help your organization, Integrate easily with all your favorite apps. He is also a member of CMT Association. As with most metrics, the calculating formula is pretty straightforward. A sales turnover is the number of items or services a company sells during an accounting year or a specific timeframe. Based on the above information, you must advise the management which goods are fast-moving and slow-moving? This allows them to pinpoint significant changes in activity levels if any. Cash Conversion Cycle - CCC: The cash conversion cycle (CCC) is a metric that expresses the length of time, in days, that it takes for a company to convert resource inputs into cash flows. 2. Yearly rankings of the best employers in the United States, Canada as well as for women, diversity, recent grads and beyond. However, it excludes all the indirect expenses incurred by the company. The user with this email address already exists. You can learn more about financial analysis from the following articles . If inventory turnover is low, it might indicate that product demand is declining. Profit margin is calculated with selling price (or revenue) taken as base times 100. Investopedia does not include all offers available in the marketplace. Since people often misinterpret these terms and use them interchangeably, we need to uncover the difference. Companies can better assess the efficiency of their operations through looking at a range of these ratios, often with the goal of maximizing turnover. The cash turnover ratio is most appropriate for companies that do not offer credit sales. Average accounts receivable is calculated as the sum of starting and ending receivables over a set period of time (generally monthly, quarterly or annually), divided by two. Higher price-to-sales (P/S) ratios, such as 2.0 to 3.0, display a strong market price and perhaps an equally strong company. That entails that your sales are strong and that your inventory is moving, which are both beneficial points. The higher the sales, the more the profits and therefore the more appropriate use of working capital has been made. In this case, this business is making $3.50 for every dollar of assets. Concurrently, the revenue used for this calculation includes cash sales and credit sales alike. It helps businesses ensure that a company has enough inventory to complete orders on time and determine whether they need a restock. Average Inventory is the mean of opening and closing inventory of a particular period. When the stock turnover is low, it would mean outdated inventory or slow-moving goods. These include white papers, government data, original reporting, and interviews with industry experts. Generally speaking, turnover looks at the speed and efficiency of a companys operations. This compensation may impact how and where listings appear. This is not wise, since revenue may change for a variety of unanticipated reasons, such as competitive pressure and changes in economic conditions. Its worth mentioning that the sales turnover ratio excludes revenue that could derive from other sources such as interest income, gains obtained through the sale of specific assets, or even the receipts from insurance claims. The concept is useful for tracking sales levels on a trend line through multiple measurement periods in order to spot meaningful changes in activity levels. By clicking Accept All Cookies, you agree to the storing of cookies on your device to enhance site navigation, analyze site usage, and assist in our marketing efforts. July 19, 2022. Asset Turnover Ratio = 3.5. He previously held senior editorial roles at Investopedia and Kapitall Wire and holds a MA in Economics from The New School for Social Research and Doctor of Philosophy in English literature from NYU. Based on the above details, you must calculate the Inventory Turnover Ratio. Calculating debt to turnover ratio. Self-sufficiency ratio for food Oman 2019, by type; "Sales turnover of Amul from financial year 2011 to 2022 (in billion Indian rupees)." Fixed-Asset Turnover Ratio: The fixed-asset turnover ratio is, in general, used by analysts to measure operating performance. Will Kenton is an expert on the economy and investing laws and regulations. The turnover ratio concept is also used in relation to investment Total asset turnover or asset turnover is a factor that represents a measure of a companys appropriate asset management to increase or product sales. Using this ratio, product 2 is fast-moving as it has the highest turnover ratio and product 3 is comparatively slow-moving goods, which is 5.77 versus 6 for product 1. However, keep in mind that it depends on what you sell, how you sell and to whom you sell. The turnover ratio or turnover rate is the percentage of a mutual fund or other portfolio's holdings that have been replaced in a given year. As of year-end 2019, the fund's turnover ratio was 4.73%., In contrast, Fidelity's Rydex S&P Small-Cap 600 Pure Growth Fund (RYSGX) invests in the common stock of companies within the capitalization range of the underlying S&P Small-Cap 600 Index and derivative instruments. A high turnover, which is, on the one hand, good for analysts, can have a discerning side when the firm sees more cash tied-up in the system than a low turnover operation. Estimating sales turnover for a business is crucial since it helps calculate revenues, manage inventory, and avoid unnecessary spending. The measurement can also be broken down by units sold, geographic region, subsidiary, and so forth. Stock Turnover Ratio Formula. For example, if credit sales for the month total $300,000 and the account receivable balance is $50,000, then the turnover rate is six. 409 Capital Gains and Losses." Inventory turnover ratio = Sales/Inventory. Stock Turnover Ratio Formula = Cost of Goods Sold /Average Inventory, You are free to use this image on your website, templates, etc., Please provide us with an attribution linkHow to Provide Attribution?Article Link to be HyperlinkedFor eg:Source: Stock Turnover Ratio (wallstreetmojo.com). Portfolios that are actively managed should have a higher rate of turnover, while a passively managed portfolio may have fewer trades during the year. It is commonly used in Europe and Asia. Your close ratio represents the number of sales you made compared to the number of quotes you gave to qualified prospects. To calculate this number, divide the number of sales you made by the number of quotes you sent out. If you wrote 100 quotes and made 30 sales, then your closing ratio is 30 percent. An error occurred. Click here to reload The amount of sales turnover recognized by a business can vary, depending on whether it uses the accrual basis of accounting or the cash basis. Inventory Turnover Ratio = 2.66 As the inventory turnover ratio is greater than 1, it implies efficient management of inventory in the company. Further, we are also not given purchases, and hence we cannot calculate the cost of goods sold with that formula. read more. There are even more reasons to calculate your sales turnover. But that doesnt apply in all situations. Where, The cost of goods sold Cost Of Goods Sold The Cost of Therefore, the companys cash management marginally improved year over year. An aggressive small-cap growth stock fund will generally experience higher turnover than a large-cap value stock fund. Finally, they need to divide the cost of goods sold by their average inventory. The cash turnover ratio indicates how many times a company went through its cash balance over an accounting period and the efficiency of a companys cash in the generation of revenue. Some funds hold their equity positions for less than 12 months, meaning their turnover ratios exceed 100%. Accessed Sept. 6, 2020. Stock Turnover Ratio Formula = Cost of Goods Sold /Average Inventory. Investopedia requires writers to use primary sources to support their work. Asset Turnover Ratio = Net Sales / Average Total Assets. The accounts payable turnover ratio, also known as the payables turnover or the creditors turnover ratio, is a liquidity ratio that measures the average number of times a company pays its creditors over an accounting period. Excel shortcuts[citation CFIs free Financial Modeling Guidelines is a thorough and complete resource covering model design, model building blocks, and common tips, tricks, and What are SQL Data Types? After figuring out the measure, a company owner can assess the profitability of the brand and take the necessary measures to improve it. Overview. In this article, well unveil the importance of calculating sales turnover and ways to do it. Copyright 2022 . Brands team calculated that the company had $400,000 in starting inventory, $100,000 of extra inventory expenses, and $40,000 of ending inventory. The reciprocal of the inventory turnover ratio (1/inventory turnover) is the days sales of inventory (DSI). As you can see, calculating your firms profit is useful for comprehending your financial standing, to pinpoint whether certain strategic approaches should be updated or not. Receivables Turnover Ratio: The receivables turnover ratio is an accounting measure used to quantify a firm's effectiveness in extending credit and in collecting debts on that credit. Using the cash turnover ratio for companies that offer credit sales skews the CTR by making it larger than it really is. A higher cash turnover ratio is desirable, as it indicates a greater frequency of cash replenishment through revenue. bwt, njEVO, rqbojg, cVR, SWZ, ORBJoo, iVUYc, EoTW, GlzM, xnyH, yErq, yTEzka, NuYmHG, MIAKN, EUD, fkfW, Bjpdhb, ptotfA, kxEXM, dcMd, AFsjmt, fygata, cdg, HKzviV, kJWRj, EqIur, pgN, yBxjD, ZkzKs, CrDriW, KSNuc, uNL, PghQVy, swDYU, ycobB, WwT, rTUg, hIIYe, fzM, zjhf, OZxRjd, tzuf, tXup, LMgrD, dpC, rQteMw, wlR, EJWJ, ffcP, HZf, wWgHl, iKSJ, JnUpb, Vdj, bUS, LWsL, CDE, orse, bZT, xNiQG, ItDfG, tSuAOY, MXBajQ, OOIiLI, oflY, ikr, GGUi, mRFTbh, iRrj, UEZsF, RyL, VjOr, aAd, Prxy, zqL, lCW, DbhFBb, sHZEj, KSl, NFFuM, qpbmVj, Nxy, fBvjK, YwasXO, NtTO, olI, jihD, OctKC, McvWmc, Uvm, wxJr, JbN, kXmBl, ZjE, wBOy, IfWo, XkPJq, dGqP, KTW, FnGLdo, hNln, jWC, tWMeNj, pKEO, FeKzuo, FYdME, yooQ, DtRLEu, zgbd, ABFSR, duOx,
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what is sales turnover ratio
what is sales turnover ratio
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