From the following information, determine Opening and Closing Inventories: Inventory Turnover Ratio 5 Times, Total Sales ₹ 2,00,000, Gross Profit Ratio 25%, Closing Inventory is more by ₹ 4,000 than the Opening Inventory.
From the following information, determine Opening and Closing Inventories: Inventory Turnover Ratio 5 Times, Total Sales ₹ 2,00,000, Gross Profit Ratio 25%, Closing Inventory is more by ₹ 4,000 than the Opening Inventory.
[Ans.: Opening Inventory = ₹ 28,000; Closing Inventory = ₹ 32,000.]
Anurag Pathak Changed status to publish August 14, 2023
