A company has an inventory of ₹58,400, Debtors of ₹48,000 and inventory turnover of 6 times. The gross profit margin is 20% on sales and its credit sales are 40% of the total sales. What will be the credit sales?
CS Executive · Cost and Management Accounting · PYQS · June 2019
A company has an inventory of ₹58,400, Debtors of ₹48,000 and inventory turnover of 6 times. The gross profit margin is 20% on sales and its credit sales are 40% of the total sales. What will be the credit sales?
Answer & Explanation:
Correct Answer: Option (D)
Official answer key: (D).
Topics: Financial Statement Analysis
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