If the opening stock of Ali ltd is N40,000, the cost of goods sold is N48,000 and the closing stock is N24,000, its rate of turnover will be?

Yricidri

4 years ago

The answer is wrong, it's B. My school.ng don't mislead us. rectify it.
rate of turnover = cost of goods sold/ average stock
cost of goods sold =₦48000
average stock = opening stock+closing stock/2
= 40000+24000/2
= 64000/2
= 32000
Rate of turnover = 48000/32000
= 1.5 times

Yricidri

4 years ago

The answer is wrong it's b.
Rate of turnover = cost of goods sold/ average stock
Average stock= opening stock + closing stock/2
= 40000+24000/2
= 64000/ 2
= 32000.
Cost of goods sold = 48000
Rate of turnover = 48000/32000
= 1.5 times

Yricidri

4 years ago

My school.ng please can you post current past questions 2019 and 2020 on every subject on this site

JpHuracanGenesis

4 years ago

The selected answer is wrong please try to change it cause its interuppting me, and please if the person reading this is a lady and is beautiful you can chat me up😋😘