Question

find the stock turnover at cost and at retail.
average inventory at cost: $22,320; average inventory at retail: $32,320; cost of goods: $178,149; retail sales: $259,468; turnover at cost: ------; turnover at retail: ------
the stock turnover at cost is 7.98. (round to the nearest hundredth.)
the stock turnover at retail is \square. (round to the nearest hundredth.)

Explanation:

Step1: Recall the formula for stock turnover at retail

The formula for stock turnover at retail is $\text{Turnover at Retail} = \frac{\text{Retail Sales}}{\text{Average Inventory at Retail}}$.

Step2: Substitute the given values

We know that Retail Sales is $\$259,468$ and Average Inventory at Retail is $\$32,320$. So we calculate $\frac{259468}{32320}$.

Step3: Perform the division

$259468\div32320 \approx 8.03$ (rounded to the nearest hundredth).

Answer:

The stock turnover at retail is $\boxed{8.03}$.