Question

What is the Inventory turnover ratio, when the following is given? cost of revenue from operation Rs. 1,50,000; closing inventory Rs. 60,000; excess of closing inventory over opening inventory Rs. 20,000.

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Answer 1

Answer:

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Answer 2

Answer:

Stock turnover ratio = Cost of goods sold/ average inventory

Cost of goods sold = Rs.2,20,000

Average Inventory= [Opening inventory + Closing Inventory]/2

                              = [50000+60000] / 2

                              = Rs.55000

Now,

Stock turnover ratio = 220000/55000

                                 = 4 times.

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Step-by-step explanation: