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

Analysis and communication of accounting information — practice question

A business has the following information: Sales: $36000 Purchases: $21000 Inventory at 1 January 2021: $3500 Inventory at 31 January 2021: $2800 Calculate the rate of inventory turnover for January.

  • A6.67 times
  • B6.89 times
  • C7.75 times
  • D11.43 times

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