Welcome to the City of Des Moines A major center for insurance, financial services and publishing, Des Moines has a lot to offer, such as affordable housing, short commute times, a diverse population, and was also recently named one of the best places to live on the Silicon Prairie. News. More Info.
An inventory audit is an accounting procedure designed to keep track of a company's products and merchandise. Inventory is a current supply count of company owned products. Numbers produced during inventory counts are closely evaluated by the auditor during the audit phase.
Inventory turnover measures the efficiency of the firm in managing and selling inventory. Inventory turnover is calculated with cost of goods sold in the numerator. Inventory turnover is a gauge of the liquidity of a firm's inventory. A low inventory turnover is generally a sign of efficient inventory management.