0 votes

Turnover ratio is defined as

- $\dfrac{\text{Fixed capital investment}}{\text{Gross annual sales}} \\$
- $\dfrac{\text{Gross annual sales}}{\text{Fixed capital investment}} \\$
- $\dfrac{\text{Fixed capital investment}}{\text{Average selling price of the product}} \\$
- $\dfrac{\text{Gross annual sales}}{\text{Average selling price of the product}}$