From the following Statement of Profit and Loss for the year ended 31st March, 2019 of Rex Ltd., calculate Inventory Turnover Ratio: STATEMENT OF PROFIT AND LOSS for the year ended 31st March, 2019 Particulars ulars Note No. Amount (₹) I. Revenue from Operations (Net Sales) 6,00,000 II. Expenses: (a) Purchases of Stock-in-Trade 3,00,000 (b) Change in Inventory of Stock-in-Trade 1 50,000 (c) Employees Benefit Expenses 60,000 (d) Other Expenses 2 45,000 Total ExpensesTotal Expenses 4,55,000 III. Profit before Tax (I-II) 1,45,000 IV. Less: Tax 45,000 V. Profit after Tax (III-IV) 1,00,000 Notes to Accounts Particulars Amount (₹) I. Change in Inventory of stock-in-Trade Opening Inventory 1,25,000 Less: Closing Inventory 75,000 50,000 2. Other Expenses Carriage Inwards 15,000 Miscellaneous Expenses 30,000 45,000