Grunweld Ltd extract of financial information for the 20X1 is as follows: £ Purchases 772 660 Expenses 115 500 Cost of sales 800000 Opening stock 75 600 Closing stock 85 440 What is the company's stock turnover ratio in days (to one decimal place)?

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The stock turnover ratio in days is calculated as (Average Stock / Cost of Goods Sold) * 365. Average Stock = (Opening Stock + Closing Stock) / 2 = (75,600 + 85,440) / 2 = 81,020. Cost of Goods Sold = Opening Stock + Purchases - Closing Stock = 75,600 + 772,660 - 85,440 = 762,820. Stock turnover ratio in days = (81,020 / 762,820) * 365 = 36.7 days.

Grunweld Ltd Extract of Financial Information for the 20X1 Is