please check my answer thanks :)
A Pet supply store recorded net sales of $423,400 for the year. The store's beginning inventory at retail was $105,850 and it's ending inventory at retial was $127,020. What would be the inventory turnover at retail, rounded to the nearset tenth?
My answer is 3.3
To find the inventory turnover at retail, you need to divide the net sales by the average inventory at retail. To calculate the average inventory at retail, you can use the formula: (beginning inventory + ending inventory) / 2.
In this case, the beginning inventory at retail was $105,850 and the ending inventory at retail was $127,020. So the average inventory at retail would be: ($105,850 + $127,020) / 2 = $116,435.
Now, divide the net sales ($423,400) by the average inventory at retail ($116,435).
Inventory turnover at retail = net sales / average inventory at retail
Inventory turnover at retail = $423,400 / $116,435
Using a calculator, the inventory turnover at retail would be approximately 3.64, not 3.3 as you mentioned.