question archive ABC (Ltd) has asked for you assistance, and their accountant has given you the information below: • Cash sales R90,000 • Credit sales R300,000 • Returns inwards R40,000 Opening stock R20,000 • Closing stock R40,000 Gross profit ratio 30% Task: Assist ABC to calculate its inventory turnover ratio, and then explain to them the implications of having either a very high or a very low inventory turnover ratio
ABC (Ltd) has asked for you assistance, and their accountant has given you the information below: • Cash sales R90,000 • Credit sales R300,000 • Returns inwards R40,000 Opening stock R20,000 • Closing stock R40,000 Gross profit ratio 30% Task: Assist ABC to calculate its inventory turnover ratio, and then explain to them the implications of having either a very high or a very low inventory turnover ratio
Subject:BusinessPrice: Bought3
ABC (Ltd) has asked for you assistance, and their accountant has given you the information below: • Cash sales R90,000 • Credit sales R300,000 • Returns inwards R40,000 Opening stock R20,000 • Closing stock R40,000 Gross profit ratio 30% Task: Assist ABC to calculate its inventory turnover ratio, and then explain to them the implications of having either a very high or a very low inventory turnover ratio. Click here for Financial statement formulae
