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Following extract belongs to a company. Inventory in the beginning of the Year ₹ 60,000. Inventory at the end of the year ₹ 1,00,000. Inventory turnover ratio 8 times. Selling price 25% above cost. Compute gross profit? a) ₹ 12,00,000 b) ₹ 1,60,000 c) ₹ 2,00,000 d) ₹ 1,80,000 |
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Answer» b) ₹ 1,60,000 |
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