Following extract belongs to a company.
Inventory in the beginning of the Year ₹ 60,000.
Inventory at the end of the year ₹ 1,00,000.
Inventory turnover ratio 8 times.
Selling price 25% above cost.
Compute gross profit?
a) ₹ 12,00,000
b) ₹ 1,60,000
c) ₹ 2,00,000
d) ₹ 1,80,000