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

Question 39 Chapter 4 of +2-B
Q-39- CH-4 Book 2 - Usha Pub. +2 Book 2020 - Solution

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Question 39 Chapter 4 of +2-B

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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%.

 

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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= ₹ 2,45,000X25
75
     
 =₹ 81,667  

 

Also, Check out the solved question of previous Chapters: –

Usha Publication – Accountancy PSEB (Class 12) – Volume I – Solution

Usha Publication – Accountancy PSEB (Class 12) – Volume II – Solution

Check out T.S. Grewal +2 Book 2020@ Official Website of Sultan Chand Publication

Question 1 Chapter 1 of +2-B
T.S. Grewal’s Analysis of Financial Statements

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