The closing stock of a business was $30 000 and the cost of goods sold was $600
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The closing stock of a business was $30 000 and the cost of goods sold was $600 000. Stock turnover is based on the average value of the opening and closing stocks.
If the stock turnover was 15 times, what was the opening stock?
A. $10 000
B. $40 000
C. $50 000
D. $80 000
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