Can someone please help me understand ?

Mathematics
Tutor: None Selected Time limit: 1 Day

The stock turnover rate of an item is the number of times that the average inventory of the item needs to be replaced as a result of sales in a given time period. Suppose that a hardware store sells 84 shovels each year.
(a) Suppose that the hardware store maintains an average inventory of 3 shovels. What is the annual stock turnover rate for the shovels?

 times/yr

(b) What would be the annual stock turnover rate if the store maintained an average inventory of 12 shovels?
 times/yr

(c) Write a formula expressing the annual stock turnover rate as a function of the average inventory of shovels. (Let T be the annual stock turnover rate and I the average inventory of shovels.)
T = 
Sep 10th, 2015

Thank you for the opportunity to help you with your question!

a) turn over rate = 84/3 = 28 times per year

b) turn over rate = 84/12 = 7 times per year

c) T =  yearly sales / I


Please let me know if you need any clarification. I'm always happy to answer your questions.
Sep 10th, 2015

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