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.

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

step-by-step explanation:

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