Question
Hope Ltd made total sales of Rs.500,000 of which 70%
were credit sales. ABC Ltd reported gross profit of Rs.200,000 that year. If the opening and closing inventory was Rs.40,000 and Rs.60,000 respectively, what is the inventory turnover ratio of ABC Ltd?Solution
Inventory turnover ratio = cost of goods sold (COGS) / average inventory COGS = Sales- gross profit = 500,000-200,000= 300,000 Average Inventory = (Opening inventory + Closing inventory) / 2 = (40,000+60,000)/2 = 50,000 Inventory turnover ratio =300,000/50,000= 6
The thirty-first meeting of the Monetary Policy Committee (MPC), constituted under section 45ZB of the Reserve Bank of India Act, 1934, will be held from?
’आराम हराम है ’ नारा किसने दिया था ?
Which state received the GI tag for Rasabali Sweets of Kendrapada?
In which state of India is the Shettihalli Wildlife Sanctuary located?
FCCB can be accessed under two routes – automatic route and approval route.
The ______ Schedule to the Constitution of India defines and specifies allocation of powers and functions between Union & States.
The Parmanand Katara Vs Union Of India (1989) case is associated with which of the following?
What is the Paik Strait?
When is the United Nations’ World Cities Day observed?
Name the lake in front of the Amber Fort?
