KT Ltd.'s opening stock was - 2,50,000 and the closing stock was - 3,75,000. Sales during the year were - 13,00,000 and the gross profit ratio was…

CA Intermediate · Financial Management and Strategic Management · RTP · September 2024
KT Ltd.'s opening stock was - 2,50,000 and the closing stock was - 3,75,000. Sales during the year were - 13,00,000 and the gross profit ratio was 25% on sales. Average accounts payable are - 80,000. Creditors Turnover Ratio =?
(A) 13.33
(B) 14.33
(C) 14.44
(D) 13.75

Suggested Answer and Working Notes:

Correct Answer: Option (D)

13.75

Topics: Part-A: Financial Management

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