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

Analysis and communication of accounting information — practice question

A company gives the following data for the year ended 31 May 2019: total purchases $175\,000$, cash purchases $35\,000$, inventory 1 June 2018 $12\,000$, inventory 31 May 2019 $15\,000$. What is the rate of inventory turnover (rounded to the nearest whole number)?

  • A$11$ times
  • B$12$ times
  • C$13$ times
  • D$16$ times

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