At the beginning of April, Clanway Manufacturing had an inventory ...

[joe]

At the beginning of April, Clanway Manufacturing had an inventory of 43,568. The ending inventory on April 30 was 41,236. The cost of goods during the month was 299,655. What was the merchandise inventory turnover rate, to the nearest tenth?

Question 2

After all the assets of a bankrupt business have been sold and the legal costs have been paid, there is 645,000 available to pay creditor claims. If the total claims of creditors are 1,370,000, how many cents on the dollar will creditors receive?

[Tonny]

Answer to Question 1

7.1

Answer to Question 2

0.47