Accounting 9706 · AS & A Level · Analysis and communication of accounting information

Analysis and communication of accounting information — practice question

A business has compiled the following figures for the year ended 30 April 2019. revenue: $220000$ inventory at the beginning: $25000$ purchases: $120000$ inventory at the end: $(31000)$ cost of goods sold: $114000$ gross profit: $106000$ What was the turnover of inventory?

  • A$86$ days
  • B$90$ days
  • C$95$ days
  • D$100$ days

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