25. Which of the following statements relative to merchandise turnover is false? a. Turnover is defined as the number of times the average inventory of an item is sold usually in annual terms. b. Turnover can be calculated based on the cost value of an item or on its retail selling price. c. Turnover can be computed by dividing total dollar sales by the average inventory at cost. d. For turnover goals to be meaningful, they must be based on merchandise groupings that are as alike as possible. e. To determine whether a turnover rate is good or bad one must compare the rate to some standard such as an industry rate or to previous years turnover rates.