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Use the following information to answer below

  GH⊄
Sales 200000
Purchase 170000
Opening stock 40000
Closing stock 50000

Stock turnover ratio is

A.

3.78 times

B.

3.56 times

C.

4 times

D.

3.2 times

View answer & explanation

Correct answer is B

Stock turnover = Cost of goods sold/Average stock

where Average stock = Opening stock + Closing stock /2

160,000 / 40,000 +50,000 /2

= 160,000 /45,000

= 3.555
≃ 3.56 times

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