# Question 32 Chapter 7 -Unimax Publication Class 12 Part 2 – 2021

Question No -32 Chapter no - 7 Unimax Class - 12 Part -II

Question 32 Chapter 7 – Unimax Publication Class 12 Part 2 – 2021

From the following details calculate (I) opening stock, (ii) closing stock
Stock turnover ratio = 6 times
Gross profit – 20% on sales
Sales 1,80,000
Closing stock is 15,000 in excess of opening stock

## The solution of Question 32 Chapter 7 – Unimax Publication Class 12 Part 2-2021 : –

 Sales = = 1,80,000 G.P. = 20% of 1,80,000 = 20/100 x 1,80,000 = ₹36,000 C.O.G.S = Net Sales – G.P. = 1,80,000 -36,000 = ₹ 1,44,000
 Stock turnover ratio = C.O.G.S Average stock

 6 = 1,44,000 Average stock
 Average stock = 1,44,000 6
 = ₹24,000 Let opening stock = x Closing stock = x +15,000
 Average stock = opening stock+closing stock 2

 24,000 = x + x+15,000 2

 48,000 = 2x + 15000 2x = 48000 -15000 = ₹ 16,500 Opening stock = x = 16,500 Closing stock = x + 15000 = 16,500 + 15,000 = 31,500 Ans.

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