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Suppose that a movie theater snack bar turns over its inventory of candy 3.3 times per month. (Round your answer to 2 decimal places.) If the snack bar has an average of 340 boxes of candy in inventory, what is its average daily sales rate for candy

Respuesta :

Answer:

The average daily sales rate for candy is 37.4.

Step-by-step explanation:

We know that,

[tex]\text{Inventory turnover }= \frac{\text{Total sale}}{\text{Average inventories}}[/tex]

[tex]\implies \text{Total sale}=\text{Inventory turnover }\times \text{Average inventories}[/tex]

Given,

Inventory turnover of candies = 3.3,

Average inventories = 340

So, sale of candies = 3.3 × 340 = 1122

Now,

[tex]\text{Average daily sales rate}=\frac{\text{total sale}}{\text{Number of days}}[/tex]

Since, 1 month = 30 days ( approx ),

Hence, the  average daily sales rate for candy = [tex]\frac{1122}{30}[/tex]=37.4

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