Question
Calculate the inventory turnover ratio:
For question 10 & 11 refer to the following information:
Inventory turnover ratio = 11,76,000/30,000 Inventory turnover ratio = 39.2 Times Cost of goods sold = Net Sales (-) gross profit 1200000 (-) 2% X 1200000 1200000 (-) 24000 1176000 Net sales = Cash sales + Credit Sales (-) Return Inwards 800000 + 400000 (-) 0 1200000 
= 30000More Accounts Questions
- An individual who wants to be a resident of India U/S6(1) must stay in India for at least:
- Which among the following deals with Accounting for Inventories?
- Opening inventory Rs. 1,700/-, Purchases Rs. 27,000/-, Closing inventory Rs. 1,500. Cost of goods sold will be
- GK Ltd. forfeited 500 shares of Rs. 10 each, fully called up, and held by Mr. Rakesh for non-payment of allotment money of Rs. 4 per share and first and fi...
- With respect to Insurance Accounting, what is the appropriate adjustment entry based on the provided information? A) Claims intimated and accepted but not ...
- What is the primary objective of capital budgeting?
- Idle time can be normal or abnormal. Which of the following will be regarded as abnormal idle time?
- Which of the following best describes ‘amortisation of debenture issue expenses’?
- On 1 April 2024, a company enters into a 3-year lease for machinery with annual lease payments of ₹5,00,000, payable at the end of each year. The increment...
- Which institutional mechanism deals with banks’ shortfalls in meeting Priority Sector Lending (PSL) targets, and how are such funds utilized?
Relevant for Exams:
Hey! Ask a query
Please enter email id
The email must be a valid email address.
Please enter Mobile Number
Please enter valid Mobile Number
Please enter your Doubt
