__________is Inventory That Has Been Ordered But Is In Transit.

Goods in transit (GIT) is inventory that has been ordered but is in transit, and it should be treated similarly to inventory on hand. For example, an online retail store with a cost of goods sold of $2 million may have a total on-hand inventory of $500,000, while TekSupply Inc., an automotive parts company, had an average of $4 million in inventory last year. It experienced an inventory turn-over rate of ________turns.

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