JAMB Commerce 2021 Objective — Question 27

Question 27 of 40 from the Joint Admissions and Matriculation Board (JAMB) Commerce 2021 Objective paper, with the correct answer and a full explanation.

27. Calculate rate stock turnover a. 12 times b. 6 times c. 10 times d. Insufficient details

A. 12 times
B. 6 times
C. 10 timesCorrect
D. Insufficient details

Explanation

Cost of goods sold = 30,000 - 5,000 = 25,000. Average stock = 5,000/2 = 2,500 (closing stock only, no opening stock given). Rate of stock turnover = 25,000/2,500 = 10 times.

Sign up free to unlock

Score tracking
Practice history
Saved questions
Progress dashboard
Personalized sessions
Weak-topic breakdown

…and/or go further with premium services and No Ads.

Create free account

More questions from Commerce 2021 Objective More Commerce past papers