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Average first margin is the weighted average percentage of gross profit on all items purchased over a period. It is calculated by taking the total gross profit and dividing it by the total sales. Cost of goods sold refers to the total cost of products that are sold, including opening inventory, purchases, and closing inventory. Inventory turnover, also called stockturn, measures how many times inventory is sold and replaced within a period. It is calculated by dividing either sales or cost of goods sold by

Author

rajneesh01

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EN