Question

stock turnover ratio 5 time total sales 200000 gross profit ratio 25/ closing stock is more by 4000 than the opening stock (ans opening stock 28000 closing stock 32000)​

Answer 1

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Answer 2

Opening Stock = 28,000

Closing Stock = 32,000

Explanation:

Given:

Stock turnover ratio = 5 times

Total sales = 2,00,000

Gross profit ratio = 25%

Opening stock = A (assume)

Closing Stock = A + 4000

Calculation:

Gross profit ratio = gross profit / net sales

0.25 = Gross profit / 2,00,000

50000 = Gross profit

Cost of goods sold =  Sales - gross profit

= 2,00,000 - 50,000

= 1,50,000

Stock turnover ratio = Cost of goods sold / Average Stock

5 = 1,50,000 / Average stock

Average Stock = 30,000 = (Opening stock + closing stock) / 2

30000 = (A + A + 4000 ) / 2

60000 = 2A + 4000

56000 = 2A

A = 28000

Opening Stock = 28,000

Closing Stock = A + 4000

Closing Stock = 28,000 +4,000

Closing Stock = 32,000

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