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

Question 115 Chapter 4 of +2-B
Q-115- CH-4 Book 2 - Usha Pub. +2 Book 2020 - Solution

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Question 115 Chapter 4 of +2-B

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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 Inventory18,000
Closing Inventory22,000
Purchases 46,000
Wages 14,000
Sales (Revenue from Operation) 80,000
Carriage inwards4,000

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 ProfitX100
Net Sales
     
 =₹ 20,000X100
 ₹ 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

Usha Publication – Accountancy PSEB (Class 12) – Volume II – Solution

Check out T.S. Grewal +2 Book 2020@ Official Website of Sultan Chand Publication

Question 1 Chapter 1 of +2-B
T.S. Grewal’s Analysis of Financial Statements

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