Question

find the stock turnover at cost and at retail.
average inventory at cost | average inventory at retail | cost of goods | retail sales | turnover at cost | turnover at retail
$22,410 | $32,390 | $178,693 | $259,499 | —— | ——
the stock turnover at cost is \boxed{}.
(round to the nearest hundredth )

Explanation:

Step1: Recall the formula for stock turnover at cost

The formula for stock turnover at cost is $\text{Turnover at Cost} = \frac{\text{Cost of Goods}}{\text{Average Inventory at Cost}}$.

Step2: Substitute the given values

We know that the Cost of Goods is $\$178,693$ and the Average Inventory at Cost is $\$22,410$. So we substitute these values into the formula: $\text{Turnover at Cost} = \frac{178693}{22410}$.

Step3: Perform the division

Calculating $\frac{178693}{22410} \approx 7.97$.

Answer:

7.97