Question 101 Chapter 4 of +2-B - USHA Publication 12 Class

Question 101 Chapter 4 of +2-B

Miscellaneous (Analytical Questions)

101. (GP Ratio/Inventory T/O Ratio/Trade Receivable T/O Ratio) From the followings information calculate. (i) Gross Profit Ratio (ii) Inventory Turnover Ratio
(iii) Trade Receivable Turnover Ratio
Revenue from Operation ₹ 1,50,000, Cost of Revenue from Operation ₹ 1,20,000, Opening inventory ₹ 27,000, Closing inventory ₹ 33,000. Trade Receivables ₹ 14,000 Bills Receivable ₹ 6,000

The solution of Question 101 Chapter 4 of +2-B: –

(a) Gross Profit Ratio	=	Gross Profit	X	100
		Net Sales
	=
	=	₹ 30,000	X	100
		₹ 1,50,000
	=	20%

(ii) Inventory Turnover Ratio	=	Cost of goods sold
(ii) Inventory Turnover Ratio	=	Average Inventory
	=
	=	₹ 1,20,000
	=	₹ 30,000
	=	4 times

(iii) Trade Receivable Turnover Ratio	=	Net Credit Sales
(iii) Trade Receivable Turnover Ratio	=	Average Trade Receivable
	=
	=	₹ 1,50,000
	=	₹ 20,000
	=	7.5 times

Working Notes

Gross Profit	=	Net Sales – Cost of goods sold
	=	₹ 1,50,000 – ₹ 1,20,000
	=	₹ 30,000

Average Inventory	=	Opening Inventory + Closing Inventory
Average Inventory	=	2

	=	₹ 27,000 + 33,000
	=	2
	=	₹ 30,000

Average Trade Receivable	=	Opening Trade Receivable + Closing Trade Receivable
Average Trade Receivable	=	2

	=	₹ 14,000 + 6,000
	=	2
	=	₹ 20,000

End of Solution

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