From the following information calculate- i) Gross profit ratio ii) stock turnover ratio Sales Rs.500000, Purchases Rs.300000, Opening Stock Rs.20000, Closing Stock Rs.40000, Carriage inward Rs.30000, Carriage outward Rs.15000.
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Answer:
Cost of Revenue from operation = opening stock+ purchases + direct expense - closing stock
20000+300000+30000-40000 = 310000
revenue from operations = net sales = 500000
i ) gross profit = revenue from operation - cost of revenue from operations = 500000- 310000 = 190000
gross profit / revenue from operations = 190000 / 500000
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