Question : Which of the following statements is false?

Option 1: Cost of Revenue = Opening Inventory + Purchases + Carriage from Operations + Wages + Other Direct Charges - Closing Inventory

Option 2: Cost of Revenue from Operations = Revenue from Operations (Cost of Goods Sold) - Gross Profit.

Option 3: Revenue from Operations + Gross Loss= cost of revenue from operation

Option 4: None of the above

Question : Cost of Revenue from Operations  - 

Option 1: Revenue from Operations – Net Profit

Option 2: Revenue from Operations – Gross Profit

Option 3: Revenue from Operations – Closing Inventory

Option 4: Purchases – Closing Inventory

Question : What formula is used to compute the inventory turnover ratio?

Option 1: Cost of Revenue from Operations/Average Inventory

Option 2: Average Inventory/Cost of Revenue from Operations

Option 3: Average Inventory/Revenue from Operations

Option 4: Gross Profit/Average Inventory

Question : From the following details, Closing Inventory Rs. 60,000;
Total Revenue from Operations Rs.5,00,000 (including cash revenue from operations Rs. 1,00,000 ); Total purchases Rs.3,00,000 (including credit purchases Rs.60,000). Goods are sold at a profit of 25% on cost. Calculate opening inventory.

Option 1: Rs 1,40,000

Option 2: Rs 1,50,000

Option 3: Rs 1,60,000

Option 4: Rs 80,000

Question : From the following details, Closing Inventory Rs. 60,000;
Total Revenue from Operations Rs.5,00,000 (including cash revenue from operations Rs. 1,00,000 ); Total purchases Rs.3,00,000 (including credit purchases Rs.60,000). Goods are sold at a profit of 25% on cost. Calculate opening inventory.

Option 1: Rs 1,40,000

Option 2: Rs 1,50,000

Option 3: Rs 1,60,000

Option 4: Rs 80,000