A trader's turnover was D36,000. Purchases was D28,00...
A trader's turnover was D36,000. Purchases was D28,000. The opening stock was D2,000 and the closing stock was D3,000.
What is the rate of turnover?
13.5 times
10.8 times
9 times
5.4 times
Correct answer is B
The inventory turnover ratio is calculated by dividing the cost of goods sold for a period by the average inventory for that period
COGS / average stock = Rate of turnover
cogs = opening stock + purchases - closing stock
2000 + 28000 - 3000 = 27000
Average stock = opening stock + closing stock / 2
2000 + 3000 / 2 = 2500
Rate of turnover = 27000/ 2500 = 10.8 times
Postage marks can be printed on letters and parcels using ...
consumer sovereignty means that the consumer is? ...
The act of a person employing another to enter into a contract on his behalf is known as? ...
The handling of telephone and telex services is done by? ...
Commerce is often referred to as the life blood of every nation because it ...
The price of an item is N 300 with a trade discount of 20%, What is the selling price? ...
A business obtains part of its short-term capital from ...
When an industry or company is nationalized, the state becomes ...
Who among the following is not engaged in a commercial occupation ...