Suppose this information is available for PepsiCo, Inc. for 2023, 2024, and 2025. (in millions) Beginning inventory Ending inventory Cost of goods sold Sales revenue (a) 2023 $1,900 2,100 Inventory turnover 16,200 2024 2025 $2,100 $2,400 2.400 2,500 18,000 17,885 40,200 43,900 Calculate the inventory turnover for 2023, 2024, and 2025. (Round inventory turnover to 1 decimal place, eg. 5.1) eTextbook and Media 43,840 2023 times 2024 times 2025

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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.