A company had net sales of $313,000. The beginning inventory at retail was $129,000 and the ending inventory was $154,000. Find the turnover rate at retail. The turnover rate is (Round to two decimal places as needed.)

A company had net sales of $313,000. The beginning inventory at retail was $129,000 and the ending inventory was $154,000. Find the turnover rate at retail. The turnover rate is (Round to two decimal places as needed.)

Managerial Accounting

15th Edition

ISBN:9781337912020

Author:Carl Warren, Ph.d. Cma William B. Tayler

Publisher:Carl Warren, Ph.d. Cma William B. Tayler

Chapter16: Financial Statement Analysis

Section: Chapter Questions

Problem 5BE

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A company had net sales of $313,000. The beginning inventory at retail was $129,000
and the ending inventory was $154,000. Find the turnover rate at retail.
The turnover rate is
(Round to two decimal places as needed.)

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