Given:
Sales...........................N15 000
Opening stock...................N5 600
Purchases.......................N9 700
Closing stock...................N4 400
Gross profit....................N4 500
Net profit......................N2 200
From the data above, calculate the rate of turnover?
3:50 times
3:00 times
2:00 times
2:18 times
Correct answer is D
No explanation has been provided for this answer.