Find opening and closing stock when goods are sold at profit
Inventory Turnover Ratio is 3 times sales are Rs 1,80,000. Opening Stock is Rs 2,000 more than the Closing Stock. Calculate the Opening and Closing Stock when goods are sold at 20% profit on cost.
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The Current Assets of a company are Rs 1,26,000 and the Current Ratio is 3:2 and the value of inventories is Rs 2,000. Find out the Liquid Ratio.
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