Average stock carried by a trader is Rs. 60,000 stock turnover ratio is 10 times. Goods are
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Average stock carried by a trader is Rs. 60,000 stock turnover ratio is 10 times. Goods are sold at a
profit of 10% on cost. Find out the profit.
Also, compute the debtors turnover ratio: Year I Rs. Year II Rs.
Gross sales 9,50,000 8,00,000
Sales returns 50,000 50,000
Debtors in the beginning of year 86,000 1,17,000
Debtors at the end 1,17,000 86,000
Provision for doubtful debts 7,000 6,000.
Expert Answer:
Answer rating: 100% (QA)
To find the profit 1 First calculate the Cost of Goods Sold COGS using the stock turnover ratio COGS Average stock Stock turnover ratio COGS Rs 60000 ... View the full answer
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