82 :- From the following information, calculate Inventory Turnover Ratio:
Solution :-
Cost of Goods Sold = Opening Inventory + Purchases + Carriage Inwards + Wages – Closing Inventory
= 2,00,000 + 4,60,000 + 20,000 + 30,000 – 60,000
= Rs 6,50,000
Average Inventory = Opening Inventory + Closing Inventory/2
= 2,00,000 + 60,000/2
= Rs 1,30,000
Inventory Turnover Ratio = Cost of Goods Sold/Average Inventory
= 6,50,000/1,30,000
= 5 Times