debtors, turnover ratio: 4 times; stock turnover ratio :8 times; current ratio : 3; average debtor: RS. 1,80,000; working capital turnover ratio: 8 times ; cash sales 25 % of total sales; gross profit ratio 33 x 1/3%; closing stock RS. 10,000 in excess of opening stock.
find (1). sales; (2). cost of good sold (3) closing stock....?
Cash Sales = 25% of Total Sales
Total Sales = Cash Sales + Credit Sales
Let Total Sales be x
Total Sales = Rs 9,60,000
Cost of Goods Sold = Sales – Gross Profit
Cost of Goods Sold = 9,60,000 – 3,20,000 = Rs 6,40,000
Opening Stock = x = 75,000
Closing Stock = x + 10,000 = 75,000 + 10,000 = Rs 85,000