Calculate the amount of gross profit: Average inventory=80000 Inventory turnover ratio=6times Selling price =25% above cost = {\ jjndhjbbvp ]
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Stock turnover ratio = Cost of goods sold/Average inventory
6 = Cost of goods sold/ 8000
Cost of goods sold = Rs.48000
Selling price = 25 % above cost
Therefore Gross profit = Cost of goods sold x 25%
= 48000 x 25%
= Rs.12000
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