Q. 168 DK Goel Accounting Ratios Solutions Class 12 CBSE (2024-25)

the solutions of Question number 168 of Accounting Ratios chapter 5 of DK Goel Class 12 CBSE (2024-25)

From the following data, Calculate Inventory Turnover Ratio:-

Total Revenue from Operations (Total Sales) ₹ 4,00,000; Revenue from Operations Returns (Sales Returns) ₹ 34,000; Gross Profit ₹ 80,000; Closing Inventory ₹ 52,000; Excess of Closing Inventory over Opening Inventory ₹ 16,000.

[Ans. Inventory Turnover Ratio 6.5 times.]

Solution:-

Hint: Opening Inventory ₹ 36,000.