Answer :
The company's inventory turns every 182-183 days, but without more information, we cannot determine the exact turnover rate. It is important to have specific data such as cost of goods sold and average inventory to calculate the inventory turnover rate accurately.
The company's inventory turnover is given as 182-183 days. This means that the company sells and replaces its inventory every 182 to 183 days. The given range indicates that the inventory turnover rate is not fixed, but falls within this range.
To calculate the inventory turnover rate, we can use the formula:
Inventory Turnover = Cost of Goods Sold / Average Inventory
However, since we don't have the cost of goods sold or average inventory, we cannot determine the exact inventory turnover rate. Therefore, the answer "Not enough information is available" is correct.
In summary, the company's inventory turns every 182-183 days, but without more information, we cannot determine the exact turnover rate. It is important to have specific data such as cost of goods sold and average inventory to calculate the inventory turnover rate accurately.
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