Question 29 Chapter 7 – Unimax Publication Class 12 Part 2 – 2021
Table of Contents
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. |
Thanks, Please Like and share with your friends
Comment if you have any Doubts.
Accounting Ratios – Meaning and Definition
Unimax 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 (Change in Profit sharing ratio among Existing Partners )
- 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)
Unimax Publication – Accountancy PSEB (Class 12) – Part – II – Solution
- Chapter No. 1 – Company Accounts (Share Capital)
- Chapter No. 2 – Company Accounts (Issue of Debentures)
- Chapter No. 3 – Company Accounts (Redemption of Debentures)
- Chapter No. 4 – Financial Statements of a Company
- Chapter No. 5 – Financial Statement Analysis
- Chapter No. 6 – Tools of Financial Statement Analysis- Comparative and Common Size
- Chapter No. 7 – Ratio Analysis
- Chapter No. 8 – Cash Flow Statement
Check out T.S. Grewal +2 Book 2023@ Official Website of Sultan Chand Publication
