Chapter 4 – Accounting Ratios – TS Grewal 2021
Question 119
Opening Inventory 200000 Closing Inventory 120000. Inventory Turnover Ratio 8 times; Selling price 25% above cost. Calculate Gross Profit Ratio.
Solution:
Opening Inventory 200000 Closing Inventory 120000
![Opening Inventory 200000 Closing Inventory 120000](https://touch4career.com/wp-content/uploads/2021/10/q119-1024x663.jpg)