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प्रश्न
Following figures have been extracted from Shivalika Mills Ltd.
| Inventory in the beginning of the year | ₹ 60,000 |
| Inventory at the end of the year | ₹ 1,00,000 |
| Inventory Turnover Ratio | 8 times |
| Selling price | 25% above cost |
Compute amount of Gross Profit and Revenue from Operations (Net Sales).
संख्यात्मक
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उत्तर
Average Inventory = `("Opening Inventory" + "Closing Inventory")/2`
= `(₹ 60,000 + ₹ 1,00,000)/2`
= ₹ 80,000
Inventory Turnover Ratio = `"Cost of goods Sold"/"Average Inventory"`
8 = `"Cost of goods Sold"/(₹ 80,000)`
Cost of goods Sold = ₹ 80,000 × 8
Cost of goods Sold = ₹ 6,40,000
Gross Profit = 25% on Cost
Gross Profit = `₹ 6,40,000 xx 25/100`
= ₹ 1,60,000
Revenue from Operations = Cost of Goods Sold + Gross Profit
= ₹ 6,40,000 + ₹ 1,60,000
= ₹ 8,00,000
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