A company's purchases are ₹385 Lakh, Sales ₹510 Lakh and closing stock ₹58 Lakh. If the rate of gross profit is 25% on cost, then Stock Turnover Ratio will be:
CS Executive · Corporate and Management Accounting · PYQS · December 2019
A company's purchases are ₹385 Lakh, Sales ₹510 Lakh and closing stock ₹58 Lakh. If the rate of gross profit is 25% on cost, then Stock Turnover Ratio will be:
Answer & Explanation:
Correct Answer: Option (D)
Official answer key: (D).
Topics: Financial Statement Analysis
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