Using the Information Below Find the Average Inventory Turnover for Vox

question 67

Multiple Choice

Using the information below find the average inventory turnover for Vox Ltd in days. $\begin{array}{ll}\text { Sales } & \$ 1,800,000 \\\text { Cost of sales } & 1,200,000 \\\text { Stock on hand start } & 360,000 \\\text { Stock on hand end } & 312,000\end{array}$

• A)102.2 days
• B)63.26 days
• C)94.8 days
• D)68 days

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Definitions:

Quantity Demanded

The complete volume of a good or service that consumers are ready and financially capable to acquire at a particular price point.

Equilibrium Price

The price at which the quantity of goods supplied is equal to the quantity of goods demanded in a market, leading to market stability.

Buyers

Individuals or entities that acquire goods or services in exchange for money, playing a crucial role in the dynamics of supply and demand in markets.

Sellers

Individuals or entities that offer goods or services for sale to consumers or other businesses.