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Find out the value of opening …

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Find out the value of opening and closing stock from the following particular. Total sales...............Rs300000 Gross profit......Rs20%on sales Inventory turnover ratio...........4 times Closing stock is more by rs. 6000than the opening stock

Posted by Aisha Singh 7 years ago

CBSE > Class 12 > Accountancy

5 answers

Aisha Singh 7 years ago

Yesssss...thnxx?

Riya Jain 7 years ago

Hope you can understand this and will help you....!

Riya Jain 7 years ago

Cost of goods sold = 300000×100/120 ". =250000. Inventor turnover ratio = cost of good sold / average inventory. Let opening inventory =x, so closing inventory = 6000+x. So.,...........average inventory = 6000+2x/2 ......................= 3000+x I.T.R = 25000/3000+x=4 So, x{opening inv.}= 59500 & closing = 59500+6000= 65500.

Aisha Singh 7 years ago

Solution mil skta h??

Riya Jain 7 years ago

59500 is opening, 65500 is closing is this rigit ???

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