## Related questions with answers

Question

Select the best choice for each question.

A product's beginning inventory on January 1 was $\$ 8,400$, and its ending inventory on March 31 was $\$ 3,600$. The cost of goods sold for the product in the quarter was $\$ 14,500$. What was the product's turnover rate, to the nearest tenth?

A. $3.0$

B. $2.4$

C. $1.3$

D. $1.7$

E. $6.4$

Solution

VerifiedStep 1

1 of 3$\dfrac{\$8,400+\$3,600}{2}=\$6,000$

The average is the sum of all values divided by the number of values.

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