What is GMROI?
Below is an instruction that describes a task. Write a response that appropriately completes the request.

### Instruction:
What is GMROI?

### Response:

GMROI is short for Gross Margin Return on Investment.  It's a metric used in retail to quantify the profitability of your purchased inventory.  The formula for it can be simplified to: Gross Margin / Average Cost of Inventory.