Loading Tutorstips...
✦ FREE LEARNING — CLASS 11 & 12 — CBSE · PSEB — ACCOUNTS · ECONOMICS · BST ✦
Question 67 Chapter 4 of +2-B
Interest Coverage Ratio
67. From the following data, calculate Inventory Turnover Ratio:
Total Sales Rs. 5,00,000; Sales Return Rs. 50,000; Gross Profit Rs. 90,000; Closing Inventory Rs. 1,00,000; Excess of Closing Inventory over Opening Inventory Rs. 20,000.
| Closing Inventory | = | Rs. 1,00,000 |
| Closing Inventory | = | Rs. 20,000 + Opening Inventory |
| Opening Inventory | = | Rs. 1,00,000 – Rs. 20,000 |
| = | Rs. 80,000 | |
| Cost of Goods Sold | = | Sales - Sales Return – Gross Profit |
| = | Rs. 5,00,00 – Rs. 50,000 – Rs. 90,000 | |
| = | Rs. 3,60,000 |
| Average Inventory | = | Opening Inventory + Closing Inventory |
| 2 |
| Average Inventory | = | Rs. 80,000 + 1,00,000 |
| 2 | ||
| = | Rs. 90,000 |
| Inventory Turnover Ratio | = | Cost of Goods of Goods Sold |
| Average Stock |
| Inventory Turnover Ratio | = | Rs. 3,60,000 |
| Rs. 90,000 | ||
| = | 4 Times |
https://tutorstips.com/balance-sheet/
Thanks, Please Like and share with your friends
Comment if you have any question.
Also, Check out the solved question of previous Chapters: -
Check out T.S. Grewal +2 Book 2020@ Official Website of Sultan Chand Publication
Accounting & Commerce Educator
Sarbjit Singh holds a B.Com and M.Com degree and has over 12 years of teaching experience in double entry bookkeeping, financial accounting, and business studies.
This guide covers "Question 67 Chapter 4 of +2-B - T.S. Grewal 12 Class", focusing on key definitions, step-by-step concepts, applications, and revision guidelines relevant to T.S. Grewal 12 Class Book Keeping Part - B - T.S. Grewal - XII.
It is primarily curated for Class 11 and Class 12 high school commerce, accounting, and economics students, as well as aspirants preparing for board exams or CA Foundation.
You can take our custom-built interactive practice quiz directly on this page to test your understanding of "Question 67 Chapter 4 of +2-B - T.S. Grewal 12 Class" instantly.
