From the following financial data, compute stock turnover ratio and stock velocity (assume 360 days in a year) — Opening stock: ₹58,000 Purchases: ₹5,02,000 Return outwards: ₹18,000 Sales: ₹6,53,000 Return inwards: ₹13,0
CS Executive · Cost and Management Accounting · PYQS · June 2016
From the following financial data, compute stock turnover ratio and stock velocity (assume 360 days in a year) — Opening stock: ₹58,000 Purchases: ₹5,02,000 Return outwards: ₹18,000 Sales: ₹6,53,000 Return inwards: ₹13,000 Gross profit: 25% on sales Choose the correct option —
Answer & Explanation:
Correct Answer: Option (B)
Official answer key: (B).
Topics: Financial Statement Analysis
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