stock turnover is 4 times sales 500000 gross profit is 25% on cost closing stock is RS. 40,000 more than opening stock. find out the closing stock.
Answer (1)
13th Dec, 2020
Hi Candidate,
The Stock Turnover is equal to 5,00,000 which is equal to 4 times the Initial Stock= 500000×4= 20,00,000.
Now as there is 25% Profit on the Opening stock and adding up more 40,000 on the closing stock, so adding 25% on 2000000= 400000+40000= 4,40,000.
So the value of Closing Stock is= 20,00,000 + 4,40,000=24,40,000.
Hope that this answer helps you.
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