Use the following information to answer below
| GH⊄ | |
| Sales | 200000 |
| Purchase | 170000 |
| Opening stock | 40000 |
| Closing stock | 50000 |
A. 3.78 times
B. 3.56 times
C. 4 times
D. 3.2 times
Correct Answer:
Option B = 3.56 times
Explanation
Stock turnover = Cost of goods sold/Average stock
where Average stock = Opening stock + Closing stock /2
160,000 / 40,000 +50,000 /2
= 160,000 /45,000
= 3.555
≃ 3.56 times
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