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Business Mathematics Brief 12th Edition by Stanley Salzman ,Gary Clendenen, Charles Miller
Edition 12ISBN: 978-0132605540Business Mathematics Brief 12th Edition by Stanley Salzman ,Gary Clendenen, Charles Miller
Edition 12ISBN: 978-0132605540 Exercise 52
Find the stock turnover at cost and at retail in the following. Round to the nearest hundredth. (See Examples.)
Finding Stock Turnover at Retail
Last year, Red Clown Children's Apparel had retail sales of $559,320 and an average retail inventory of $49,601. Find the stock turnover at retail.
Solution
On average, the store turned over or sold the value of its entire inventory 11.3 times during the month.
Finding Stock Turnover at Cost
If the average inventory value at cost for Red Clown Children's Apparel in Example was $27,260 and the cost of goods sold was $341,340, find the stock turnover at cost.
Solution
Notice that the two turnover values from Examples are similar, as expected.
Finding Stock Turnover at Retail Last year, Red Clown Children's Apparel had retail sales of $559,320 and an average retail inventory of $49,601. Find the stock turnover at retail.
Solution
On average, the store turned over or sold the value of its entire inventory 11.3 times during the month.
Finding Stock Turnover at Cost
If the average inventory value at cost for Red Clown Children's Apparel in Example was $27,260 and the cost of goods sold was $341,340, find the stock turnover at cost.
Solution
Notice that the two turnover values from Examples are similar, as expected.
Explanation
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Verified
The following table is given 
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Business Mathematics Brief 12th Edition by Stanley Salzman ,Gary Clendenen, Charles Miller
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