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Naily [24]
3 years ago
8

Average Inventory at Cost: $18,127

Mathematics
1 answer:
Alex_Xolod [135]3 years ago
7 0

Answer:

2.55

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 retail we get answer as

2.55

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