Practicing Success
Calculate the closing inventory if the closing inventory was ₹80000 in excess of the opening inventory and cost or revenue from operations is ₹500000 and the inventory turnover ratio is 5 times. |
₹40000 ₹80000 ₹140000 ₹120000 |
₹140000 |
Inventory Turnover Ratio = Cost of Revenue from Operations / Average Inventory |