Check the expiration dates on packages like pancakes and cake mixes that have yeast which over time develop spores. Apparently, the mold that forms in old mixes can be toxic! Throw away ALL OUTDATED pancake mix, brownie mixes, Bisquick, cake & cookie mixes, etc., you have in your home.
Inventory Turnover Ratio. Inventory turnover is an efficiency ratio which calculates the number of times per period a business sells and replaces its entire batch of inventories. It is the ratio of cost of goods sold by a business during an accounting period to the average inventories of the business during the period.
Inventory turnover ratio is computed by dividing the cost of goods sold by average inventory at cost. Two components of the formula of inventory turnover ratio are cost of goods sold and average inventory at cost. Cost of goods sold is equal to cost of goods manufactured (purchases for trading company) plus opening inventory less closing inventory.