Illustration 15 A firm records a sale (revenue from operations) of 3,00,000 with a gross profit...

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Illustration 15 A firm records a sale (revenue from operations) of 3,00,000 with a gross profit margin of 25 per cent on sales. The inventory at the beginning and end was 30,000 and 40,000 respectively. What is the inventory turnover ratio? 25,000 Illustration 15 A firm records a sale (revenue from operations) of 3,00,000 with a gross profit margin of 25 per cent on sales. The inventory at the beginning and end was 30,000 and 40,000 respectively. What is the inventory turnover ratio? 25,000