Question 115 Chapter 4 of +2-B - USHA Publication 12 Class

Question 115 Chapter 4 of +2-B

Miscellaneous (Analytical Questions)

115. (Stock T/O Ratio/GP Ratio) From the following information, calculate the stock turnover ratio and the gross profit ratio

	₹
Opening Inventory	18,000
Closing Inventory	22,000
Purchases	46,000
Wages	14,000
Sales (Revenue from Operation)	80,000
Carriage inwards	4,000

The solution of Question 115 Chapter 4 of +2-B: –

(i) Stock Turnover Ratio	=	Cost of goods sold
(i) Stock Turnover Ratio	=	Average Inventory

	=	₹ 60,000
	=	₹ 20,000
	=	3 times

(ii) Gross Profit Ratio	=	Gross Profit	X	100
		Net Sales

	=	₹ 20,000	X	100
		₹ 80,000
	=	25%

Working Notes:-

Average Stock	=	Opening Stock + Closing Stock
Average Stock	=	2

	=	₹ 18,000 + ₹ 22,000
	=	2
	=	₹ 20,000
Cost of goods sold	=	Opening Stock + Purchases + Wages + Carriage Inward – Closing Stock
	=	₹ 18,000 + ₹ 46,000 + ₹ 14,000 + ₹ 4,000 – ₹ 22,000
	=	₹ 60,000
Gross Profit	=	Sales – Cost of goods sold
	=	₹ 80,000 – ₹ 60,000
	=	₹ 20,000

End of Solution

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