Problem
A hotel wants to identify the sales performance of their signature bathrobes.
Total sales of the robes over a six-month period were $1,200.
The value of opening stock was $3,300.
The value of closing stock was $1,500.
Use a calculator to calculate the following.
1. What is the average stock price?
2. What is the rate of stock turn?
3. What do these results mean?