Question 41 Chapter 4 of +2-B - USHA Publication 12 Class

Question 41 Chapter 4 of +2-B

III. Activity Ratios

Inventory Turnover Ratio

41. (Inventory T/O Ratio/Only Opening Inventory given) From the following data, calculate the Inventory Turnover Ratio

Cost of goods Sold (i.e. Cost of Revenue from Operation)	₹ 2,00,000
Purchases	₹ 3,00,000
Opening inventory	₹ 50,000

The solution of Question 41 Chapter 4 of +2-B: –

Inventory Turnover Ratio	=	Cost of goods sold
		Average Inventory

Cost of goods sold	=	₹ 4,50,000
Closing Inventory	=	₹ 1,50,000

Average Inventory	=	Opening Inventory – Closing Inventory
Average Inventory	=	2

	=	₹ 50,000 + ₹ 1,50,000
	=	2

Average Inventory	=	₹ 1,00,000

Working Note

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Cost of goods sold	=	Opening Inventory + Purchases + Direct Expenses – Closing Inventory
₹ 2,00,000	=	₹ 50,000 + ₹ 3,00,000 – Closing Inventory
Closing Inventory	=	₹ 3,50,000 – ₹ 2,00,000
	=	₹ 1,50,000

End of Solution

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