Opening Inventory of a firm is Rs80,000. Cost of revenue from operations is Rs 6,00,000. Inventory Turnover Ratio is 5 times. Its closing Inventory will be:

Rs1,60,000

Let Closing Inventory=A
Average inventory = (Opening + closing)/2
                              = (80000 + A)/2
Inventory Turnover Ratio = Cost of Revenue from Operations / Average Inventory
                                      5 = 6,00,000/(80,000+A)/2
                   5*(80000+A) = 6,00,000*2
                       80,000 + A = 12,00,000/5
                       80,000 + A = 240000
                                      A = 1,60,000