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Question 115 Chapter 4 of +2-B
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Table of Contents
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 |
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% |
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Working Notes:-
Average Stock | = | Opening Stock + Closing 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 |
Also, Check out the solved question of previous Chapters: –
Usha Publication – Accountancy PSEB (Class 12) – Volume I – Solution
- Chapter No. 1 – Accounting Not for Profit Organisations
- Chapter No. 2 – Partnership Accounts – I (Introduction)
- Chapter No. 3 – Partnership Accounts – II (Goodwill: Nature and Valuation)
- Chapter No. 4 – Partnership Accounts – III (Reconstitution of Partnership)
- Chapter No. 5 – Partnership Accounts – IV (Admission of A Partner)
- Chapter No. 6 – Partnership Accounts – V (Retirement and Death of A Partner)
- Chapter No. 7 – Partnership Accounts – VI (Dissolution of Partnership Firm)
- Chapter No. 8 – Company Accounts (Share Capital)
- Chapter No. 9 – Company Accounts (Issue of Debentures)
- Chapter No. 10 – Company Accounts (Redemption of Debentures)
Usha Publication – Accountancy PSEB (Class 12) – Volume II – Solution
- Chapter No. 1 – Financial Statements of a Company
- Chapter No. 2 – Financial Statement Analysis
- Chapter No. 3 – Tools of Financial Statement Analysis- Comparative and Common Size
- Chapter No. 4 – Ratio Analysis
- Chapter No. 5 – Cash Flow Statement
Check out T.S. Grewal +2 Book 2020@ Official Website of Sultan Chand Publication
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