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Steel Scrap Trader sells its product at a Gross Margin of 25% on Sales. Its Annual Sales are estimated to be Rs 360 Million. The
Steel Scrap Trader sells its product at a Gross Margin of 25% on Sales. Its Annual Sales are estimated to be Rs 360 Million. The Inventory turnover ratio for the business is 4 times whereas the receivable turnover ratio is 3 times.
Using this information, estimate the amount of inventory in hand and trade receivable outstanding at the end of the year.?
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