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Q28 The following information of Stanley Ltd. Are given for the year ended 31st December, 2004: 8 times Stock Turnover Ratio Sales $ 4,00,000 Gross

Q28

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The following information of Stanley Ltd. Are given for the year ended 31st December, 2004: 8 times Stock Turnover Ratio Sales $ 4,00,000 Gross Profit Ratio 20 % of Sales Creditors $ 25,000 Debtors $ 40,000 Calculate : (i) Average Stock and (ii) Purchases

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