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ILLUSTRATION 3 Following transactions are extracted from stores bin card relating to a component during the year 2018 - 19: Date Receipts Issues Balance 01-04-2018

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ILLUSTRATION 3 Following transactions are extracted from stores bin card relating to a component during the year 2018 - 19: Date Receipts Issues Balance 01-04-2018 200 units 200 units 18-04-2018 100 units 100 units 10-01-2019 50 units 50 units 16-03-2019 200 units 250 units 31-03-2019 250 units Total consumption 400 units Calculate Inventory Turnover Ratio

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