Answered: A company had net sales of $318,000.…

Advanced Engineering Mathematics

10th Edition

ISBN:9780470458365

Author:Erwin Kreyszig

Publisher:Erwin Kreyszig

Chapter2: Second-order Linear Odes

Section: Chapter Questions

Problem 1RQ

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Part 1

A company had net sales of

$318,000.

The beginning inventory at retail was

$124,000

and the ending inventory was

$150,000.

Find the turnover rate at retail.

Expert Solution

Step 1: Introduction to the question

The net sales of a company: $318000.

Beginning inventory at retail: $124,000

Ending inventory: $150,000.

Turnover Rate at Retail $equals fraction numerator Net space Sales over denominator Average space Retail space inventory space end fraction$ , where

Net Sales is the total sales and average retail inventory is the average value of the inventory at retail prices.

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A company had net sales of ​$318,000. The beginning inventory at retail was ​$124,000 and the ending inventory was ​$150,000. Find the turnover rate at retail.

Question content area top

Part 1

A company had net sales of $318,000. The beginning inventory at retail was $124,000 and the ending inventory was $150,000. Find the turnover rate at retail.