Following are the information extracted from the balance sheet of Sun rise LLC 42,000 Opening Stock Purchases 90,000 Carriage Inward 5,000 Wages 29,000 Selling and distribution Expanses 14,000 Sales 188,000 Sales Returns 20,000 Closing Stock 32,000 Depreciation 15,000 From the above information answer the following questions 1. What is the Gross profit ratio? 20.23% 50% None of them 2. What is the Stock turnover Ratl 33.33%

Following are the information extracted from the balance sheet of Sun rise LLC 42,000 Opening Stock Purchases 90,000 Carriage Inward 5,000 Wages 29,000 Selling and distribution Expanses 14,000 Sales 188,000 Sales Returns 20,000 Closing Stock 32,000 Depreciation 15,000 From the above information answer the following questions 1. What is the Gross profit ratio? 20.23% 50% None of them 2. What is the Stock turnover Ratl 33.33%

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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