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26 April, 23:34

Average Inventory at Cost: $18,127

Average Inventory at Retail: $24,870

Cost of Goods Sold: $46,971

Retail Sales: $63,410

Find the stock turnover at cost. Round to the nearest hundredth.

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Answers (1)
  1. 27 April, 00:45
    0
    2.59

    Step-by-step explanation:

    Given that average inventory at cost = 18127/-

    Cost of goods sold = 46971

    Hence stock turnover ratio at cost = cost of goods sold/average inventory

    = 46971/18127 = 2.59

    (There is another method also to calculate stock inventory ratio

    Stock inventory ratio = Retail sales/Average inventory at retail

    =63410/24870

    =2.5496

    =2.55)

    Since our question asks stock turnover at cost we get answer as

    2.59
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