20000 is corfo. Itr is 8 times. Opening inventory is 1.5 times more than closing inventory. Calculate opening and closing inventory
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average inventory=corfo.×itr
=20000×8=160000
let closing inventory is x and opening will be 1.5x+x
average inventory=x+1.5x+x/2
160000=3.5x/2
x=320000/3.5=91428
opening will be=2.5*91428=228570
=20000×8=160000
let closing inventory is x and opening will be 1.5x+x
average inventory=x+1.5x+x/2
160000=3.5x/2
x=320000/3.5=91428
opening will be=2.5*91428=228570
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