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For instance, if your apparel store comes with an normal supply of $100,000 and the cost of goods offered is $200,000, you then would divide $200,000 by $100,000 to provide you with a relation of 2:1, which can be indicated merely as 2. Which means that the common apparel retailer sold-out its whole inventory 3.

A greater turnover is much better as it means that you will be offering a larger number of product in accordance with your catalog, leading to lower storage costs. 91 occasions during this 12-month period. Industry Average
In line with the Thomson One Bank database, the common merchandise turnover in the retail clothing business for the 12-month period ending June 2011, was 3.

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The how to calculate inventory turnover rate for retail goods turnover is how many situations that the company cycles through its inventory. Calculation
The goods turnover relation is calculated by separating the expense of goods distributed by the average inventory. As an example, if a firm posseses an inventory turnover of 4, this means that they have entirely sold-out its stock four situations over the period being calculated.

You need to purpose to really have a higher turnover than the industry average. A higher than industry average turnover illustrates your organization is competitive, while an inferior than market normal turnover shows that there's space for improvement. Comparison
You need to use the common merchandise turnover for the retail clothing market as a benchmark on your own clothing store.

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