JAMB Commerce 2021 Objective — Question 5
Question 5 of 40 from the Joint Admissions and Matriculation Board (JAMB) Commerce 2021 Objective paper, with the correct answer and a full explanation.
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5. Which of the following formula is used to compute rate of stock turnover a. cost of goods sold / average stock b. average stock / cost of goods sold c. sales / stock d. stock / sales
- A. cost of goods sold / average stockCorrect
- B. average stock / cost of goods sold
- C. sales / stock
- D. stock / sales
Explanation
Rate of stock turnover = cost of goods sold / average stock, and it is measured in times.
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