AGI (Annual Gross Income) is annualized total income prior to exclusions and deductions.
PRODUCT MIX involves planning and developing the right type of product that will satisfy fully the needs of customers. A product has several dimensions. These dimensions are collectively called product mix. Product mix for example may consist of size and weight of the product, volume of output, product quality, product design, product range, brand name, package, product testing, warranties and after sales services and the like.
AVERAGE AGE OF INVENTORY is calculated by the formula: 365 / inventory turnover.
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