The rate of turnover is the number of times within a given period that
A.
stock is sold and replaced
B.
closing stock is sold and replaced
C.
purchases are added to stock
D.
average stock is sold
Correct Answer: Option A
Explanation
The rate of turnover is the number of times a firm sells all of its goods and it is gotten by dividing the total sales revenue in a period by the average inventory in that period.
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