Why is reduction in the number of days’ sales in inventory a good management policy?.

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28-10-2022
Business

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Why is reduction in the number of days’ sales in inventory a good management policy?.

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contexto1017 contexto1017 · Answer 1 · 2022-11-02T06:28:34-04:00

Your cost of financing the inventory purchases as well as your cost of storing the inventory will both decrease with a reduction in the number of days' sales in inventory.

The required details for inventory in given paragraph

The term "inventory" covers both the production's raw materials and the final goods that are put up for sale. Inventory turnover is one of a company's most important assets because it is a major source of revenue production and, consequently, profitability for the firm's shareholders. The three different types of inventory are finished goods, works in progress, and raw materials. It is categorized as a current asset on the balance sheet of a corporation.

The variety of raw materials or completed products that a company has on hand are referred to as inventory.

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