O-LevelAccountingAnalysis and interpretation7707/12 · May/June 2012 · Q291 Mark

A trader provided the following information. $ $ revenue 60 000 opening inventory 15 000 purchases 30 000 45 000 closing inventory 10 000 35 000 gross profit 25 000 What was the rate of inventory turnover?

A2.5 times

B2.8 times

C3.5 times

D4.8 times

✓ Correct answer

B: 2.8 times

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Topic: Analysis and interpretation, O-Level Accounting (syllabus 7707). Multiple choice, 1 mark.
Source: O-Level Accounting, May/June 2012 Paper 1 Variant 2, question 29.

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