In the month of Feb,2014 , A Wholesaler total sale is Rs. 5 Lac, and His opening stock was Rs.2.60lac and the Wholesaler stock received on that month of Rs 3.60lac. So, Calculate his month end Closing Stock and No. of inventory days of Closing Stock.
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The money that he receives at the end of that month is the net profit from his entire earning and expenditure which here in the question is given as 3.60lac.
While his opening stocks were 2.60 lac along with his sale or the net sale is 5 lac thus we can find his month end closing stock by using the formulae of gross profit will be = closing stock + net purchase or net sale - opening stock thus putting the values we will get 3.60 = 5 + 2.60 lac - closing stock we will get the closing stock to be 4 lakhs.
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