At the beginning of 2022, no Co. has an inventory amounting to P400,000. During the year, no Co. purchased P2,750,000 additional merchandise and sold merchandise amounting to P2,250,000. On December 31, 2022, what is the inventory turnover?    4.23 4.13 3.56 3.46

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Inventory Valuation

Before discussing the topic inventory valuation let’s discuss the meaning of inventory. In accounting, inventory is also known as stock. Inventory means all the finished goods, materials, merchandise that a business holds for the purpose of selling it in the market with the motive of earning profit.