   Chapter 16.III, Problem 9RE ### Contemporary Mathematics for Busin...

8th Edition
Robert Brechner + 1 other
ISBN: 9781305585447

#### Solutions

Chapter
Section ### Contemporary Mathematics for Busin...

8th Edition
Robert Brechner + 1 other
ISBN: 9781305585447
Textbook Problem

# Bubbles Bath Boutique had net sales of $245,300 for the year. The beginning inventory at retail was$62,600, and the ending inventory at retail was $54,200.a. What was the average inventory at retail?b. What was the inventory turnover rounded to the nearest tenth? (a) To determine To calculate: The average inventory at retail of exotic Bubbles Bath boutique which had net sale of$245,300 and beginning and ending inventory are provided as $62,600 and$54,200 respectively.

Explanation

Given Information:

The beginning and the ending inventory is provided as $62,600 and$54,200 respectively.

The net sale is provided as $245,300. Formula used: The formula of average Inventory retail is given by: Average inventory at retail= begining inventory at retail+ending inventory at retail2 Calculation: Consider the beginning and ending inventory are provided as$62,600 and $54,200 respectively (b) To determine To calculate: The inventory turnover at retail of exotic Bubbles Bath boutique which had net sale of$245,300 and beginning and ending inventory are provided as $62,600 and$54,200 respectively.

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