You are given the following information
Trade creditors on Jan 2019
25000
creditors on 31st Dec 2019
45000
Debtors on 31st Dec 2019
90000
Stock turnover ratio
5 times
Sales
500,000
Gross Profit
20%on sales
cash purchases
350000
Calculate Average stocks, purchases, Avg Payment period
Avg collection periodd and creditors turnover ratio
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