(i) Revenue from Operations: Cash Sales ₹ 4,20,000; Credit Sales ₹ 6,00,000; Return ₹ 20,000. Cost of Revenue from Operations or Cost of Goods sold ₹ 8,00,000. Calculate Gross Profit Ratio.
(i) Revenue from Operations: Cash Sales ₹ 4,20,000; Credit Sales ₹ 6,00,000; Return ₹ 20,000. Cost of Revenue from Operations or Cost of Goods sold ₹ 8,00,000. Calculate Gross Profit Ratio.
(ii) Average Inventory ₹ 1,60,000; Inventory Turnover Ratio 6 Times; Selling Price 25% above cost. Calculate Gross Profit Ratio.
(iii) Opening Inventory ₹ 1,00,000; Closing Inventory ₹ 60,000; Inventory Turnover Ratio 8 Times; Selling Price 25% above cost. Calculate Gross Profit Ratio.
[Ans.: (i) Gross Profit Ratio = 20%; (ii) Gross Profit Ratio = 20%; (iii) Gross Profit Ratio = 20%.]
Anurag Pathak Changed status to publish August 15, 2023
