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Contemporary Mathematics for Busin...

8th Edition
Robert Brechner + 1 other
ISBN: 9781305585447

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BuyFindarrow_forward

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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