BP is a global leader in the energy sector, managing vast operations involving the extraction, refining, and distribution of petroleum products. As the energy demand fluctuates throughout the year, BP's supply chain must remain agile and efficient. BP regularly calculates its Inventory Turnover Ratio (ITR) to ensure that inventory levels are optimised.

As part of their financial and operational analysis, BP's supply chain management team has gathered data on ending inventory levels and the cost of goods sold for each month of the past year. The team is now tasked with calculating the ITR to evaluate their inventory management efficiency and identify potential improvement areas. As part of the supply chain management team, you have received the following instructions: