MJ Harvest (MJ Harvest) Inventory Turnover : 0.34 (As of Feb. 2023)

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What is MJ Harvest Inventory Turnover?

Inventory Turnover measures how fast the company turns over its inventory within a year. It is calculated as Cost of Goods Sold divided by Total Inventories. MJ Harvest's Cost of Goods Sold for the three months ended in Feb. 2023 was $0.35 Mil. MJ Harvest's Average Total Inventories for the quarter that ended in Feb. 2023 was $1.01 Mil. MJ Harvest's Inventory Turnover for the quarter that ended in Feb. 2023 was 0.34.

Days Inventory indicates the number of days of goods in sales that a company has in the inventory. MJ Harvest's Days Inventory for the three months ended in Feb. 2023 was 265.73.

Inventory-to-Revenue determines the ability of a company to manage their inventory levels. It measures the percentage of Inventories the company currently has on hand to support the current amount of Revenue. MJ Harvest's Inventory-to-Revenue for the quarter that ended in Feb. 2023 was 2.65.

MJ Harvest Inventory Turnover Historical Data

The historical data trend for MJ Harvest's Inventory Turnover can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

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MJ Harvest Inventory Turnover Chart

MJ Harvest Annual Data

Trend

May19

May20

May21

May22

Inventory Turnover

0.45

0.40

1.31

1.65

MJ Harvest Quarterly Data
	Nov18	Feb19	May19	Aug19	Nov19	Feb20	May20	Aug20	Nov20	Feb21	May21	Aug21	Nov21	Feb22	May22	Aug22	Nov22	Feb23
Inventory Turnover	Get a 7-Day Free Trial													0.24	0.94	0.24	0.05	0.34

MJ Harvest Inventory Turnover Calculation

MJ Harvest's Inventory Turnover for the fiscal year that ended in May. 2022 is calculated as

	Inventory Turnover (A: May. 2022 )
=	Cost of Goods Sold	/	Average Total Inventories
=	Cost of Goods Sold (A: May. 2022 )	/ (	(Total Inventories (A: May. 2021 )	+	Total Inventories (A: May. 2022 ))	/	count )
=	0.186	/ (	(0.028	+	0.197)	/	2 )
=	0.186	/	0.1125
=	1.65

MJ Harvest's Inventory Turnover for the quarter that ended in Feb. 2023 is calculated as

	Inventory Turnover (Q: Feb. 2023 )
=	Cost of Goods Sold	/	Average Total Inventories
=	Cost of Goods Sold (Q: Feb. 2023 )	/ (	(Total Inventories (Q: Nov. 2022 )	+	Total Inventories (Q: Feb. 2023 ))	/	count )
=	0.347	/ (	(0.96	+	1.061)	/	2 )
=	0.347	/	1.0105
=	0.34

MJ Harvest (OTCPK:MJHI) Inventory Turnover Explanation

Inventory Turnover measures how fast the company turns over its inventory within a year. A higher Inventory Turnover means the company has light inventory. Therefore the company spends less money on storage, write downs, and obsolete inventory. If the inventory is too light, it may affect sales because the company may not have enough to meet demand.

1. Days Inventory indicates the number of days of goods in sales that a company has in the inventory.

MJ Harvest's Days Inventory for the three months ended in Feb. 2023 is calculated as:

Days Inventory	=	Average Total Inventories (Q: Feb. 2023 )	/	Cost of Goods Sold (Q: Feb. 2023 )	*	Days in Period
	=	1.0105	/	0.347	*	365 / 4
	=	265.73

2. Inventory-to-Revenue determines the ability of a company to manage their inventory levels. It measures the percentage of Inventories the company currently has on hand to support the current amount of Revenue.

MJ Harvest's Inventory to Revenue for the quarter that ended in Feb. 2023 is calculated as

Inventory-to-Revenue	=	Average Total Inventories (Q: Feb. 2023 )	/	Revenue (Q: Feb. 2023 )
	=	1.0105	/	0.382
	=	2.65

Be Aware

Usually retailers pile up their inventories at holiday seasons to meet the stronger demand. Therefore, the inventory of a particular quarter of a year should not be used to calculate Inventory Turnover. An average inventory is a better indication.

MJ Harvest Inventory Turnover Related Terms

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MJ Harvest (MJ Harvest) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Industrials » Industrial Distribution » MJ Harvest Inc (OTCPK:MJHI) » Definitions » Inventory Turnover

Comparable Companies

Traded in Other Exchanges

N/A

Address

9205 West Russell Road, Suite 240, Las Vegas, NV, USA, 89139

Website

https://www.mjharvestinc.com

MJ Harvest Inc cultivates, harvests, manufactures, and sells cannabis products. It also acquires and markets products and technologies that are designed to benefit growers and processors in the horticultural and agricultural industries.

Executives

David Tobias	director	PO BOX 1602, MESQUITE NV 89024
Jerry Cornwell	director, 10 percent owner	14424 SE 78TH WAY, NEW CASTLE WA 98059
Brad E Herr	officer: CFO	5413 S SAYBROOK LANE, SPOKANE WA 99223
Patrick Bilton	director, 10 percent owner, officer: Chief Executive Officer	9205 W RUSSELL ROAD, SUITE 240, LAS VEGAS NV 89139