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    Inventory turn over rate/cost

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    BI:$18,500 (in sales figures)purchases $44,700(at cost)net sales $50,300 (sales figures) markup is 22% based on cost, determine inventory turnover at cost..and at sales price

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    Solution Preview

    End Inventory = BI+Purchase-Net Sales=18500+44700-50300=12900
    Then average inventory = ...

    Solution Summary

    This shows how to determine inventory turnover at cost and sales price