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If the rate of turnover of a company in 1999 was 4 times while the average stock was N49,600, determine the turnover.
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.
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Given:
Opening stock: ₦1,800
Purchases: ₦2,800
Sales: ₦8,000
Closing stock: ₦350
Carriage on sales: ₦500
Calculate the value of the unused stock.
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