Following information are given: Sales = ₹ 15,00,000 Gross profit ratio = 20% Stock Turnover ratio = 8 If closing stock is more than opening stock by ₹ 20,000, the value of closing stock is:
CS Executive · Corporate and Management Accounting · PYQS · December 2023
Following information are given: Sales = ₹ 15,00,000 Gross profit ratio = 20% Stock Turnover ratio = 8 If closing stock is more than opening stock by ₹ 20,000, the value of closing stock is:
Answer & Explanation:
Correct Answer: Option (B)
Official answer key: (B).
Topics: Financial Accounting
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