Some data of financial of a company are as follows:- (Rs.) Fixed Assets 10,000 Stock 3,000 Debtors 2,000 Cash 4,000 Prepaid Expense 1,000 Creditors 3,000 Reserve 1,000 Calculate the current ratio and liquid ratio.
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Question 70:
Calculate Inventory Turnover Ratio from the data given Below:
₹ ₹
Inventory in the beginning of the year 20,000 Carriage Inwards 5,000
Inventory at the end of the year 10,000 Revenue from Operations, i.e., Sales 1,00,000
Purchases 50,000
State the significance of this ratio.
ANSWER:
Cost of Goods Sold = Opening Stock + Purchases + Carriage Inwards − Closing Stock
= 20,000 + 50,000 + 5,000 − 10,000 = 65,000
Explanation:
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