Question
29. Saw Ltd's average inventory for the financial year was $20,000. Sales for the year were $125,000 and the gross margin was 20 per cent.
29. Saw Ltd's average inventory for the financial year was $20,000. Sales for the year were $125,000 and the gross margin was 20 per cent. What was the inventory turnover?
a.
1.25 times p.a.
b.
5 times p.a.
c.
5.25 times p.a.
d.
None of the above
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Risk-Based Internal Audit
Authors: Jason Lee Mefford
1st Edition
1631922629, 9781631922626
