Given:
Sales………………………N15 000
Opening stock……………….N5 600
Purchases…………………..N9 700
Closing stock……………….N4 400
Gross profit………………..N4 500
Net profit………………….N2 200
From the data above, calculate the rate of turnover?
- 3:50 times
- 3:00 times
- 2:00 times
-
2:18 times
