Fundamentals of Inventory - 3.0

Closing stock of a business gets calculated as..................?

• Opening Balance + Purchases + Sales

• Opening Balance - Purchases + Sales

• Opening Balance - Purchases - Sales

• Opening Balance + Purchases - Sales

The closing stock of today will become tomorrow's..........................?

• Sales

• Purchase

• Opening stock

• Closing stock

Inventory has economic value and is considered as...................of the business?

• Assets

• Expenses

• Liabilities

• Income

What is the Full form of UOM?

• Unit of measure

• Unit of measurement

• United of measurement

• Unit

Riddhima Enterprises bought 400 bottles (20 cases 20 Bottles), and each bottle was Rs.2.5. So what is the total stock value?

• 900

• 2000

• 1100

• 1000

The business has bought 20 cases of each case has 20 bottles of water at ₹ 1,500. What is the ‘Cost of Goods Sold’?

• 2.75

• 3

• 3.75

• 4

Gross Profit means?

• Sales Value – Purchase Value

• Purchase Value – Sales Value

• Sales Value + Purchase Value

• Sales Value / Purchase Value

Choose the correct equation.

• Opening Stock + Purchases – COGS = Closing Stock

• Opening Stock + Purchases – COGS = Opening Stock

• Opening Stock - Purchases + COGS = Closing Stock

• None

The industry which buys raw materials from suppliers and produces finished or semi-finished goods are called as:

• Manufacturing Industry

• Service Industry

• Retail Traders

• Wholesale Traders

_____________ is the industry which offer services to other industries and customers, their main income is from offering various services.

• Manufacturing Industry

• Service Industry

• Retail Traders

• Wholesale Traders