During September, Aparna had sales of 148,000, which made a gross profit of 40,000. Purchases amounted to 100,000 and ope inventory was 34,000. The value of closing inventory was? Rs. 54000 Rs. 42000 Rs. 24000 O O
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- The following information is available for Cooke Company for the current year: The gross margin is 40% of net sales. What is the cost of goods available for sale? a. 5840,000 b. 960,000 c. 1,200,000 d. 1,220,000A firm sold goods worth ₹ 5,00,000 and it's gross profit is 20 percent of sales value. The inventory at this beginning of the year was ₹ 16,000 and at end of the year was ₹ 14,000. Compute inventory turnover ratio and also the Inventory holding period.During September, Khan had sales of 148,000, which made a gross profit of 40,000. Purchases amounted to 100,000 and opening inventory was 34,000. The * ?value of closing inventory was 42,000 O 24,000 O 26,000 O 54,000
- During September an organisation had sales of £148,000, which showed agross profit of £40,000. Purchases were £100,000 and opening inventorywas £34,000. The value of closing inventory was:1. SQC Inc. had sales of $3,000,000, cost of merchandise sold at $2,100,000, an averageinventory of $140,000. What is SQC Inc.'s days' sales in inventory? (Round the answerto the nearest whole number.) a. 24 daysb. 17 daysc. 15 daysd. 30 daysYasmeen Corporation's inventory balance was $22,000 at the beginning of the year and $20,000 at the end. The inventory turnover ratio for the year was 6.0 and the gross profit was 40% of net sales. What were net sales for the year? A. $126,000. C. $315,000. D. $210,000.
- Big Basket has an opening inventory of Rs. 30 million. It shows closing inventory at the end of the year as Rs. 50 million. Which one of the following statements hold true? A) Cost of sales for the year is Rs. 600 million and profit for the year is Rs. 20 million b) Cost of sales for the year is Rs. 600 million and profit for the year is Rs. 80 million c) Cost of sales for the year is Rs. 600 million and purchases for the year is Rs. 580 million d) Cost of Sales for the year is Rs. 600 million and purchases during the year is Rs. 620 millionDuring the year ended 31 December, the business made sales of RM45,000 and purchases of RM25,000. The inventory at the beginning of the year was valued at RM8,000 and, at 31 December, RM4,500. The gross profit for the year was: A RM25,000 B RM16,500 C RM23,500 D RM32,500Suppose Domino's had cost of goods sold during the year of $290,000. Beginning merchandise inventory was K $40,000, and ending merchandise inventory was $75,000. Determine Domino's inventory turnover for the year. Round to the nearest hundredth. OA. 8.29 times per year OB. 7.25 times per year OC. 5.04 times per year OD. 3.87 times per year
- Sales are $110,000. Purchases are $80,000. Opening inventory is $12,000. Closing inventory is $10,000. The rate of inventory turnover is A 7.27 times B 7.45 times C 8 times D 10 timesGREEN Enterprises reported the following information for the current year: Inventory, January 1P2,300,000; Purchases - P7,105,000; Purchase returns and allowances - P520,000; Sales returns andallowances - P692,000; Inventory, December 31 -P2,470,000. Gross profit rate on net sales is 20%. What is the amount of gross sales for the current year?1. PAKIALAMERA KO Company provided the following data for the current year: Inventory, January 1 P2,000,000, Purchases P7,500,000, Purchase Returns and Allowances P500,000, Sales returns and allowances P750,000, Inventory, December 31 P2,800,000, Gross profit rate 20%. What is the amount of Cost of goods sold?