DK Goel Solutions Q 67 Chapter 3 Accounting Ratios Class 12 CBSE [2023-24]
Step-by-step solution of Question 67, Chapter 3 Accounting Ratios, DK Goel Class 12 Accountancy 2023-24 for the CBSE Board.
Question 67
A company’s inventory turnover is 5 times. Inventory at the end of the year is ₹ 4,000 more than inventory at the beginning of the year. Revenue from Operations during the year (all credit) were ₹ 3,00,000. Rate of Gross Profit is 25% on cost of Revenue from Operations. Current Liabilities at the end of the year were ₹ 50,000. Quick Ratio is 1 : 1. Calculate :—
- (i) Cost of Revenue from Operations (Cost of Goods Sold).
- (ii) Opening inventory.
- (iii) Closing inventory.
- (iv) Quick Assets.
- (v) Current Assets at the end.
Solution
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About this solution
This is Chapter 3 Accounting Ratios of DK Goel For 2024 Examinations.
Written by Vijay Adarsh, teaching commerce since 2003 to Class 11, Class 12, B.Com, CA, CS and CMA students.
We have solved all the practical questions in this book and explained them Step by Step in detail with clear working notes.
Also, we have followed the proper format and workings which are required as per CBSE Guidelines. Just follow our presentation of solutions and score good marks in the Accountancy Board Exam.
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