What is GMROI?
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.
Below is an instruction that describes a task, paired with an input that provides further context. Write a response that appropriately completes the request.
### Instruction: What is GMROI?
### Input: 
### 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.