Q. 69 DK Goel Accounting Ratios Solutions Class 12 CBSE (2024-25)
the solutions of Question number 69 of Accounting Ratios chapter 5 of DK Goel Class 12 CBSE (2024-25)
A company’s inventory turnover is 5 times. Inventory at the end of the year is ₹ 4,000 more than inventory at the beginning of the year. Revenue from Operations during the year (all credit) were ₹ 3,00,000. Rate of Gross Profit is 25% on Cost of Revenue from Operations. Current Liabilities at the end of the year were ₹ 50,000. Quick Ratio is 1 : 1. Calculate:-
(i) Cost of Revenue from Operations (Cost of Goods Sold)
(ii) Opening inventory
(iii) Closing inventory
(iv) Quick Assets
(v) Current Assets at the end.
[Ans. (i) ₹ 2,40,000; (ii) ₹ 46,000; (iii) ₹ 50,000; (iv) ₹ 50,000; (v) ₹ 1,00,000.]
Solution:-
