Calculate the rate of turnover from the information below?

Given:

Sales………………………N15 000
Opening stock……………….N5 600
Purchases…………………..N9 700
Closing stock……………….N4 400
Gross profit………………..N4 500
Net profit………………….N2 200

A. 3:50 times
B. 3:00 times
C. 2:00 times
D. 2:18 times

Correct Answer:

Option D – 2:18 times