Question

Opening stock is Rs.20,000, closing stock Rs.10,000, Purchases Rs.50,000, wages Rs.3,000, carriage Rs.2,000. The stock turnover ratio is​

Answer 1

Opening stock+ purchases- closing stock = 80700

5800+purchases-6000= 80700

Purchases=80700+200=80900₹

Step-by-step explanation:

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Answer 2

The stock turnover ratio is​ 13:3.

Step-by-step explanation:

Given:- Opening stock= Rs.20,000

             Closing stock = Rs.10,000

             Purchases = Rs.50,000  

             Wages = Rs.3,000

              Carriage = Rs.2,000.

To Find:- Stock Turnover Ratio

Formula:- Stock Turnover Ratio = COGS/Average Inventory

                where COGS is Cost of goods sold

COGS= Opening Stock + Purchases + Direct Expenses–   Closing Stock

COGS= 20,000+50,000+(3000+2000)-10,000

COGS=65,000

Average Inventory=(Opening Stock + Closing Stock)/2

Average Inventory= (20,000+10,000)/2 =15,000

Stock Turnover Ratio= 65,000/15,000 = 13/3

Stock Turnover Ratio=13:3.