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Anettt [7]
3 years ago
11

Suppose that a movie theater snack bar turns over its inventory of candy 3.3 times per month. (Round your answer to 2 decimal pl

aces.) If the snack bar has an average of 340 boxes of candy in inventory, what is its average daily sales rate for candy
Mathematics
1 answer:
hammer [34]3 years ago
6 0

Answer:

The average daily sales rate for candy is 37.4.

Step-by-step explanation:

We know that,

\text{Inventory turnover }= \frac{\text{Total sale}}{\text{Average inventories}}

\implies \text{Total sale}=\text{Inventory turnover }\times \text{Average inventories}

Given,

Inventory turnover of candies = 3.3,

Average inventories = 340

So, sale of candies = 3.3 × 340 = 1122

Now,

\text{Average daily sales rate}=\frac{\text{total sale}}{\text{Number of days}}

Since, 1 month = 30 days ( approx ),

Hence, the  average daily sales rate for candy = \frac{1122}{30}=37.4

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