Inter-Rock Minerals (Inter-Rock Minerals) Inventory Turnover : 11.05 (As of Dec. 2023)

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What is Inter-Rock Minerals 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. Inter-Rock Minerals's Cost of Goods Sold for the three months ended in Dec. 2023 was $22.37 Mil. Inter-Rock Minerals's Average Total Inventories for the quarter that ended in Dec. 2023 was $2.03 Mil. Inter-Rock Minerals's Inventory Turnover for the quarter that ended in Dec. 2023 was 11.05.

Days Inventory indicates the number of days of goods in sales that a company has in the inventory. Inter-Rock Minerals's Days Inventory for the three months ended in Dec. 2023 was 8.26.

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. Inter-Rock Minerals's Inventory-to-Revenue for the quarter that ended in Dec. 2023 was 0.08.

Inter-Rock Minerals Inventory Turnover Historical Data

The historical data trend for Inter-Rock Minerals'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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Inter-Rock Minerals Inventory Turnover Chart

Inter-Rock Minerals Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Inventory Turnover

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20.76

18.19

26.88

36.33

35.42

Inter-Rock Minerals Quarterly Data
	Mar19	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23
Inventory Turnover	Get a 7-Day Free Trial															5.94	8.03	8.73	8.94	11.05

Inter-Rock Minerals Inventory Turnover Calculation

Inter-Rock Minerals's Inventory Turnover for the fiscal year that ended in Dec. 2023 is calculated as

	Inventory Turnover (A: Dec. 2023 )
=	Cost of Goods Sold	/	Average Total Inventories
=	Cost of Goods Sold (A: Dec. 2023 )	/ (	(Total Inventories (A: Dec. 2022 )	+	Total Inventories (A: Dec. 2023 ))	/	count )
=	79.593	/ (	(2.59	+	1.904)	/	2 )
=	79.593	/	2.247
=	35.42

Inter-Rock Minerals's Inventory Turnover for the quarter that ended in Dec. 2023 is calculated as

	Inventory Turnover (Q: Dec. 2023 )
=	Cost of Goods Sold	/	Average Total Inventories
=	Cost of Goods Sold (Q: Dec. 2023 )	/ (	(Total Inventories (Q: Sep. 2023 )	+	Total Inventories (Q: Dec. 2023 ))	/	count )
=	22.373	/ (	(2.147	+	1.904)	/	2 )
=	22.373	/	2.0255
=	11.05

Inter-Rock Minerals (OTCPK:IRCKF) 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.

Inter-Rock Minerals's Days Inventory for the three months ended in Dec. 2023 is calculated as:

Days Inventory	=	Average Total Inventories (Q: Dec. 2023 )	/	Cost of Goods Sold (Q: Dec. 2023 )	*	Days in Period
	=	2.0255	/	22.373	*	365 / 4
	=	8.26

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.

Inter-Rock Minerals's Inventory to Revenue for the quarter that ended in Dec. 2023 is calculated as

Inventory-to-Revenue	=	Average Total Inventories (Q: Dec. 2023 )	/	Revenue (Q: Dec. 2023 )
	=	2.0255	/	24.708
	=	0.08

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.

Inter-Rock Minerals Inventory Turnover Related Terms

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Inter-Rock Minerals (Inter-Rock Minerals) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Consumer Defensive » Consumer Packaged Goods » Inter-Rock Minerals Inc (OTCPK:IRCKF) » Definitions » Inventory Turnover

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Traded in Other Exchanges

IRO:Canada

Address

500-2 Toronto Street, Suite 500, 12th Floor, Toronto, ON, CAN, M5C 2B6

Website

http://www.interrockminerals.com

Inter-Rock Minerals Inc produces and markets dolomite for the animal feed, glass, roofing, and agricultural lime industries in the United States. It also markets and distributes specialty ingredients to the dairy feed industry. It operates through three business units: MIN-AD, Inc., and Papillon Agricultural Company. Its Papillon segment accounts for the majority of the firm's revenue, which is a marketer and distributor of toll-manufactured premium dairy feed nutritional supplements.

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