Question : Find the stock turnover ratio from the following:
Opening stock Rs.39,000 Closing stock Rs.41,000 Purchases Rs.2,52,000.
Option 1: 12 Times
Option 2: 15 Times
Option 3: 9 Times
Option 4: 6.25 Times
Answer (1)
10th Jan, 2024
Correct Answer: 6.25 Times
Solution :
Cost of goods sold = Opening Stock + Purchase – Closing Stock
Cost of goods sold = 39,000 + 2,52,000 - 41,000 = 2,50,000
Stock Turnover Ratio = Cost of goods sold / Average Stock
Stock Turnover Ratio = 250000/(39000+41000/2)
Stock Turnover Ratio = 6.25:1.
Hence, the correct option is 4.
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