The grocery industry has an annual inventory turnover of about times. Organic Grocers, Inc., had a cost of goods sold last year of $; its average inventory was $. What was Organic Grocers' inventory turnover, and how does that performance compare with that of the industry? a) What was Organic Grocers' inventory turnover? nothing times per year (round your response to two decimal places). b) How does Organic Grocers' performance compare with that of the industry? It is ▼ the same as worse than better than the industry.

Inventory turnover ratio= 10.5 times

Organic Grocers' performance is LOW compare with that of the grocery industry.

Explanation:

Computation of Inventory turnover ratio using this formula

Inventory turnover ratio = Cost of goods sold / Average inventory

Let plug in the formula

Inventory turnover ratio = $10.5 /$ 1 .00

Inventory turnover ratio= 10.5 times

Therefore Organic Grocers’s inventory turnover is 10.5 times

Based on the information given about grocery industry we were told that they had annual inventory turnover of 14 times while Organic Grocers’s based on the above calculation inventory turnover is 10.5 times which means that Organic Grocers’s performance is low when compared with grocery industry which had inventory turnover of about 14 times.

Therefore Organic Grocers' performance is LOW compare with that of the grocery industry.

a) both were commissioned explorers