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From the following informations ascertain the average payment period :Total SalesSales ReturnsGross Profit RatioOpening StockClosing StockClosing CreditorsClosing B/P[Ans. 87 days Approx](Note: First of all Cost of Goods Sold will be calculated which will be * 40,000. Thereafter, closing stockdeducted in order to find out the amount of purchases.]60,00010,00020%4,0006,0008,0002.000 |
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