Andes Gold (Andes Gold) Inventory Turnover : -5.11 (As of Dec. 2003)

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What is Andes Gold 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. Andes Gold's Cost of Goods Sold for the three months ended in Dec. 2003 was $-1.94 Mil. Andes Gold's Average Total Inventories for the quarter that ended in Dec. 2003 was $0.38 Mil. Andes Gold's Inventory Turnover for the quarter that ended in Dec. 2003 was -5.11.

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

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.

Andes Gold Inventory Turnover Historical Data

The historical data trend for Andes Gold'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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Andes Gold Inventory Turnover Chart

Andes Gold Annual Data

Trend

Dec94

Dec95

Dec96

Dec97

Dec98

Dec99

Dec00

Dec01

Dec02

Dec03

Inventory Turnover

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2.89

1.41

13.42

15.07

5.09

Andes Gold Quarterly Data
	Mar98	Jun98	Sep98	Dec98	Mar00	Jun00	Sep00	Dec00	Mar01	Jun01	Sep01	Dec01	Mar02	Jun02	Sep02	Dec02	Mar03	Jun03	Sep03	Dec03
Inventory Turnover	Get a 7-Day Free Trial															4.24	4.14	3.21	3.02	-5.11

Andes Gold Inventory Turnover Calculation

Andes Gold's Inventory Turnover for the fiscal year that ended in Dec. 2003 is calculated as

	Inventory Turnover (A: Dec. 2003 )
=	Cost of Goods Sold	/	Average Total Inventories
=	Cost of Goods Sold (A: Dec. 2003 )	/ (	(Total Inventories (A: Dec. 2002 )	+	Total Inventories (A: Dec. 2003 ))	/	count )
=	1.373	/ (	(0.205	+	0.335)	/	2 )
=	1.373	/	0.27
=	5.09

Andes Gold's Inventory Turnover for the quarter that ended in Dec. 2003 is calculated as

	Inventory Turnover (Q: Dec. 2003 )
=	Cost of Goods Sold	/	Average Total Inventories
=	Cost of Goods Sold (Q: Dec. 2003 )	/ (	(Total Inventories (Q: Sep. 2003 )	+	Total Inventories (Q: Dec. 2003 ))	/	count )
=	-1.935	/ (	(0.423	+	0.335)	/	2 )
=	-1.935	/	0.379
=	-5.11

Andes Gold (OTCPK:AGCZ) 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.

Andes Gold's Days Inventory for the three months ended in Dec. 2003 is calculated as:

Days Inventory	=	Average Total Inventories (Q: Dec. 2003 )	/	Cost of Goods Sold (Q: Dec. 2003 )	*	Days in Period
	=	0.379	/	-1.935	*	365 / 4
	=

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.

Andes Gold's Inventory to Revenue for the quarter that ended in Dec. 2003 is calculated as

Inventory-to-Revenue	=	Average Total Inventories (Q: Dec. 2003 )	/	Revenue (Q: Dec. 2003 )
	=	0.379	/	-2.431
	=

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.

Andes Gold Inventory Turnover Related Terms

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Andes Gold (Andes Gold) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Basic Materials » Metals & Mining » Andes Gold Corp (OTCPK:AGCZ) » Definitions » Inventory Turnover

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Traded in Other Exchanges

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Address

1200 N. Federal Highway, Suite 200, Boca Raton, FL, USA, 33432

Website

http://www.andesgoldmine.com

Andes Gold Corp is the operator of leased properties which it mines for mineral resources, specifically, gold. The company develops and produces gold assets in Ecuador and South America.

Andes Gold (Andes Gold) Headlines

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