Question

a company has an average inventory at cost of $14,240, and cost of goods sold for the same period is $86,529. find the stock turnover at cost

the stock turnover at cost is
(round to two decimal places.)

Explanation:

Step1: Recall the formula for stock turnover at cost

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

Step2: Substitute the given values into the formula

We are given that the cost of goods sold is $\$86,529$ and the average inventory at cost is $\$14,240$. Substituting these values into the formula, we get:
$\text{Stock Turnover at Cost} = \frac{86529}{14240}$

Step3: Perform the division

Calculating $\frac{86529}{14240} \approx 6.08$ (rounded to two decimal places).

Answer:

6.08