43. From the following information find out the value of opening stock: Stock turnover ratio 6 times Gross profit ratio 20% on sales Annual sales ₹3,00,000 Closing stock is ₹10,000 more than the opening stock
CS Executive · Cost and Management Accounting · PYQS · June 2021
43. From the following information find out the value of opening stock: Stock turnover ratio 6 times Gross profit ratio 20% on sales Annual sales ₹3,00,000 Closing stock is ₹10,000 more than the opening stock
Answer & Explanation:
Correct Answer: Option (C)
Official answer key: (C).
Topics: Financial Statement Analysis
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