Question

Calculate the Inventory turnover ratio of the company?

Read the following information to answer the below questions:   Net Sales = 40,00,000 (20 % GP Element) out of which 40% is on credit. Opening Inventories were 60 % of closing inventories. Opening Receivables are 120,000.   
A 9.52 times
B 8.62 times
C 7.62 times
D 12.70 times
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