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

the stock turnover at cost is 7.97
(round to the nearest hundredth.)
the stock turnover at retail is
(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: Identify the values

From the table, Retail Sales is \(\$259,499\) and Average Inventory at Retail is \(\$32,390\).

Step3: Calculate the turnover at retail

Substitute the values into the formula: \(\text{Turnover at Retail}=\frac{259499}{32390}\approx7.99\) (rounded to the nearest hundredth).

Answer:

\(7.99\)