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Retail mathematics sales percentage

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The buyer of women's gloves currently has an average inventory of $20500, with an annual turnover rate of 4.0. Because this rate of stock turn is below the industry average, a 7.82% increase in turnover is sought. Assuming a constant level of inventory, calculate the percentage increase in sales necessary to produce a 7.82% increase in turnover.

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Solution Summary

This solution is comprised of a detailed calculation to find the percentage increase in sales necessary to produce a 7.82% increase in turnover.

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Inventory turnover ratio = Sales/Inventories
4.0 = ...

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