Business Studies

If the stock velocity is 6, cost of goods sold is Rs.54,000 and closing stock is Rs.10,000 the opening stock is __________.


ANSWER

Rs. 8,000


SOLUTION
Let the opening stock is x.
Stock velocity = cost of goods sold / average inventory
6 = 54,000/(10000+x)/2
hence x = Rs.8,000.
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Single Correct Medium Published on 18th 08, 2020
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