United Parcel Service Inc (UPS)
Inventory turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Cost of revenue | US$ in thousands | 57,919,000 | 59,505,000 | 55,675,000 | 52,220,000 | 46,204,000 |
| Inventory | US$ in thousands | 935,000 | 889,000 | 717,000 | 620,000 | 511,000 |
| Inventory turnover | 61.95 | 66.93 | 77.65 | 84.23 | 90.42 |
December 31, 2023 calculation
Inventory turnover = Cost of revenue ÷ Inventory
= $57,919,000K ÷ $935,000K
= 61.95
To analyze United Parcel Service, Inc.'s inventory turnover, we will calculate the ratio using the formula:
Inventory Turnover = Cost of Goods Sold / Average Inventory
Given that the specific data for Cost of Goods Sold and Inventory for each year is not provided in the table, we are unable to calculate the inventory turnover ratio for United Parcel Service, Inc. for the years 2019 to 2023.
Please provide the necessary financial data for Cost of Goods Sold and Inventory for the respective years so that a comprehensive analysis of the company's inventory turnover can be conducted.