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Alex Ar [27]
3 years ago
13

Average Inventory at Cost: $18,127

Mathematics
1 answer:
alexandr402 [8]3 years ago
3 0

Answer:

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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