From the following information, calculate the value of opening and closing inventory:
Inventory Turnover Ratio = 4 times
Gross Profit = 20% on Revenue from operations
Revenue from operations = ₹10,00,000
Opening inventory is 25% of the inventory at the end.
Marks-4, CBSE:2022-23/Zone-5/Set-1/Q-33*
Answer :
Accounting Ratios Solution-61