Question 39 Chapter 4 of +2-B - USHA Publication 12 Class

Question 39 Chapter 4 of +2-B

III. Activity Ratios

Inventory Turnover Ratio

39. (Cost of Goods Sold & G.P.) A business house turns over its inventory 7 times a year and carries an average inventory at a cost of 35,000. Find out the cost of goods sold and gross profit if the mark upon sales is 25%.

The solution of Question 39 Chapter 4 of +2-B: –

Inventory Turnover Ratio	=	Cost of goods sold
		Average Inventory

7	=	Cost of goods sold
		₹ 35,000

Cost of goods sold	=	₹ 35,000 x 7
	=	₹ 2,45,000
Gross Profit on Sales	=	25%
Sales	=	₹ 100
Cost of goods sold	=	100 – 25
	=	75

Gross profit	=	₹ 2,45,000	X	25
Gross profit	=	₹ 2,45,000	X	75

	=	₹ 81,667

End of Solution

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Chapter No. 8 – Company Accounts (Share Capital)

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