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
(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 $\$178,685$ and the Average Inventory at Cost is $\$22,420$. So we substitute these values into the formula: $\text{Turnover at Cost} = \frac{178685}{22420}$.

Step3: Perform the division

Calculate $\frac{178685}{22420} \approx 7.97$.

Answer:

7.97