Stock Turnover ratio- 6 times; Gross profit- 20% of sales; Sales Rs. 180,000; Closing stock is
Rs. 15,000 in excess of opening stock. Find the value of opening stock and closing stock.
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Plz anyone of u can solve this query. i need it urgent.
Replies (3)
Opening 15
closing 30
closing 30
Op stock-16500
closing stock-31500
closing stock-31500
Sales / Stk T.Over = Clsg Stk....... So you Get your Clsg Stk.....
Clsg Stk to be adjusted by given amount to arrive at Opng Stk... So you get your Opg Stk.......
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