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  3. calculate inventory turnover ratio in each of the

Calculate Inventory turnover ratio in each of the following cases: Calculate Inventory Turnover Ratio in...

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Accounting

Calculate Inventory turnover ratio in each of the following cases: Calculate Inventory Turnover Ratio in each of the following alternative cases: Case 1: Cash Sales 25% of Credit Sales; Credit Sales 3,00,000; Gross Profit 20% on Revenue from Operations, i.e., Net Sales; Closing Inventory 1,60,000; Opening Inventory 40,000. Case 2: Cash Sales 20% of Total Sales; Credit Sales 4,50,000; Gross Profit 25% on Cost; Opening Inventory 37,500; Closing Inventory 1,12,500

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