The following information is given for X Ltd. Stock velocity 3.75 months, Gross profit ₹80,000 being 20% of sales. The closing stock of the year is ₹25,000 more than the opening stock. What will be the amount of opening
CS Executive · Cost and Management Accounting · PYQS · June 2019
The following information is given for X Ltd. Stock velocity 3.75 months, Gross profit ₹80,000 being 20% of sales. The closing stock of the year is ₹25,000 more than the opening stock. What will be the amount of opening and closing stocks?
Answer & Explanation:
Correct Answer: Option (C)
Official answer key: (C).
Topics: Financial Statement Analysis
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