What does the gross profit ratio and the inventory turnover ratio tell company management about inventory?

Question:

What does the gross profit ratio and the tell company management about inventory?

Inventory Turnover Ratio
Inventory Turnover RatioThe inventory turnover ratio is a ratio of cost of goods sold to its average inventory. It is measured in times with respect to the cost of goods sold in a year normally. Inventory Turnover Ratio FormulaWhere,...