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Blue Sky Company began the year with a balance in inventory of TK. 110,000 and ended the year with a balance of Tk. 102,000. The net sales for the year were Tk. 983,000 with a gross profit on sales of Tk. 295,000. What was the inventory turnover ratio ?

Blue Sky Company began the year with a balance in inventory of TK. 110,000 and ended the year with a balance of Tk. 102,000. The net sales for the year were Tk. 983,000 with a gross profit on sales of Tk. 295,000. What was the inventory turnover ratio ? Correct Answer 6.49 times

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"For the financial year ended as on March 31, 20XX the figures extracted from the balance sheet of Xerox Limited as under:
Opening Stock Rs 29,000; Purchases Rs 2,42,000; Sales Rs 3,20,000; Gross Profit 25% of Sales.
Stock Turnover Ratio will be" :-