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

Analysis and communication of accounting information — practice question

At the close of a financial year, a business had the following information available. sales $300\,000$ opening inventory $33\,000$ closing inventory $27\,000$ The business uses a mark-up of $20\%$ on all goods purchased. What was the inventory turnover in days?

  • A40
  • B44
  • C45
  • D46

Worked solution & mark scheme

This 1-mark question has a full step-by-step worked solution and mark scheme.

  • Full mark scheme, point by point
  • Step-by-step worked solution
  • Write your answer & get it marked instantly by AI