Question 33 Chapter 7 – Unimax Publication Class 12 Part 2 – 2021
Table of Contents
33. 3,00,000 is the cost of goods sold, inventory turnover is 8 times; stock at the beginning is 2 times more than the stock at the end. Calculate the values of opening and closing stocks.
The solution of Question 33 Chapter 7 – Unimax Publication Class 12 Part 2-2021 : –
|
Stock turnover ratio |
= | C.O.G.S |
| Average stock |
|
8/1 |
= | 3,00,000 |
| Average stock |
|
Average stock |
= | 3,00,000 |
| 8 |
| Average stock | = | 37,500 |
| Let closing stock | = | x |
| Opening stock | = | 2x + x = 3x |
|
Average Stock |
= | Opening stock + Closing Stock |
| 2 |
| 37,500 | = | 3 x + x |
| 2 |
| 37,500 | = | 4 x |
| 2 | ||
| 75,000 | = | 4x |
|
|
75,000 | = | X | |
| 4 |
| X | = | 18,750 |
| Closing stock | = | X =18,750 |
| Opening stock | = | 3X =3 x 18,750 = 56,250 |
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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
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