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Determine the value of closing stock from the following details: (10 marks) Sales Rs. 8,00,000 Gross profit = 10% on sales Stock turnover ratio= 4

Determine the value of closing stock from the following details: (10 marks)

Sales Rs. 8,00,000

Gross profit = 10% on sales

Stock turnover ratio= 4 times

Greta if i can get the answer in 30 min

Closing stock was Rs. 10,000 in excess of opening stock

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