Question on: JAMB Commerce - 2005
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?
A
3:50 times
B
3:00 times
C
2:00 times
D
2:18 times
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Correct Option: D
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