Question 29 Chapter 7 -Unimax Publication Class 12 Part 2 – 2021

Question No -29 Chapter no - 7 Unimax Class - 12 Part -II
Question No -29 Chapter no - 7 Unimax Class - 12 Part -II

Question 29 Chapter 7 – Unimax Publication Class 12 Part 2 – 2021

29. From the following information calculate inventory turnover ratio:

Particulars
Fixed assets (original cost) 4,00,000
Opening stock 58,000
purchase 4,84,000
Sales 6,40,000
Gross profit ratio 25%  

The solution of Question 29 Chapter 7 – Unimax Publication Class 12 Part 2-2021 : –

G.P. ratio

= G.P. X 100
Net Sales

 

 

 

25

= G.P. X 100
6,40,000

G.P.

= 25 X 6,40,000
100
  = ₹ 1,60,000
C.O.G.S. = Net sales – G.P.
  = 6,40,000 – 1,60,000
  = 4,48,000
C.O.G.S = opening stock + purchases + direct taxes – closing stocks.
4,80,000 =

58,000 + 4,84,000 + Nil – closing stock

Closing stock = 5,42,000 – 4,80,000
  = 62,000

Average stock

= opening stock+closing stock
2

 

= 58,000+62,000
2

 

= 1,20,000 = ₹ 60,000
2

 

 

 

Stock turnover ratio

= C.O.G.S
Average stock
     
  = 4,80,000
  60,000
  = 8 times Ans.

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