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In accounting, the inventory turnover is a measure of the number of times inventory is sold or used in a time period such as a year. It is calculated to see if a business has an excessive inventory in comparison to its sales level.
The average inventory is the average of inventory levels at the beginning and end of an accounting period, and COGS/day is calculated by dividing the total cost of goods sold per year by the number of days in the accounting period, generally 365 days. [3] This is equivalent to the 'average days to sell the inventory' which is calculated as: [4]
In operations research, Johnson's rule is a method of scheduling jobs in two work centers. Its primary objective is to find an optimal sequence of jobs to reduce makespan (the total amount of time it takes to complete all jobs). It also reduces the amount of idle time between the two work centers. The method minimizes the makespan in the case ...
QuickBooks is an accounting software package developed and marketed by Intuit.First introduced in 1992, QuickBooks products are geared mainly toward small and medium-sized businesses and offer on-premises accounting applications as well as cloud-based versions that accept business payments, manage and pay bills, and payroll functions.
In education, an inset day (an abbreviation of in-service training day; alternatively INSET day) [1] is a school day on which teaching sessions are not conducted and students do not attend school, but teachers are required to attend for training or to complete administrative tasks. Inset days allow teachers to catch up on work (such as marking ...
A classic example of a production rule-based system is the domain-specific expert system that uses rules to make deductions or choices. [1] For example, an expert system might help a doctor choose the correct diagnosis based on a cluster of symptoms, or select tactical moves to play a game.
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