Given the following information, calculate the firm's stockturn rate. $$\begin{array} { l c }
\text { Net sales } & \$ 480,000 \
\text { Gross margin \% } & 50 \% \
\text { Average inventory at cost } & \$ 40,000
\end{array}$$
A) 7
B) 10
C) 3
D) 6
E) Cannot be determined from data given.

Question

Given the following information, calculate the firm's stockturn rate. $$\begin{array} { l c } 
\text { Net sales } & \$ 480,000 \
\text { Gross margin \% } & 50 \% \
\text { Average inventory at cost } & \$ 40,000
\end{array}$$
A) 7
B) 10
C) 3
D) 6
E) Cannot be determined from data given.

Quizplus · Accepted Answer

The Answer of Given the following information, calculate the firm's stockturn rate. $$\begin{array} { l c } 
\text { Net sales } & \$ 480,000 \
\text { Gross margin \% } & 50 \% \
\text { Average inventory at cost } & \$ 40,000
\end{array}$$
A) 7
B) 10
C) 3
D) 6
E) Cannot be determined from data given.

Given the Following Information, Calculate the Firm's Stockturn Rate A) 7 B) 10 C) 3 D) 6 E) Cannot

Given the Following Information, Calculate the Firm's Stockturn Rate A) 7
B) 10
C) 3
D) 6
E) Cannot