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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

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1 Answer

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by (50.7k points)

b) ₹ 1,60,000 

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