Candidates to calculate (showing all working):

• rate of stock turnover;
• gross profit;net profit;
• net profit percentage.

observation

The few candidates who attempted the question performed averagely well.
However, candidates should note that the final answer to the rate of Turnover must have the percentage “times” eg
Rate of Turnover         =          cost of goods sold
                                                Average stock
                                    =          15,000             =                      5.45 times
                                                   2,750