Question 1 Report
If the rate of turnover of a company in 1999 was 4 times while the average stock was N49,600, determine the turnover.
N199,400
N198,400
N100,200
N99,200
Answer Details
To determine the turnover of a company, we need to multiply the rate of turnover with the average stock.
In this case, the rate of turnover in 1999 was 4 times, and the average stock was N49,600. Therefore, the turnover can be calculated as:
Turnover = Rate of turnover x Average stock
Turnover = 4 x N49,600 Turnover = N198,400
So, the turnover of the company in 1999 was N198,400.