Inventory refers to any product ready to be sold in your boutique. At least thirteen inventories exist, including raw materials, components, work in progress, and finished goods. There is also excess inventory, packaging materials, maintenance, repair, and operating supplies. As a business owner, you must know how to buy the inventory your customers will buy in the right quantities to avoid overstocking and missing out on sales. It’s not as simple as people may think. However, there is a formula you can use to help, such as inventory turnover. What Is Inventory Turnover? Inventory turnover is the number of times inventory has sold in a year, quarter, or month. Also called the stock turn, you can calculate it by taking the cost of...