From the following information, calculate inventory turnover ratio :
`{:(,,,Rs.),("Inventory in the beginning ",,=,18_(,)000),("Inventory at the end",,=,22_(,)000),("Net purchases",,=,46_(,)000),("Wages",,=,14_(,)000),("Revenue from operations",,=,80_(,)000),("Carriage inwards",,=,4_(,)000):}`

Explanation

`"Inventory Turnover Ratio" =("Cost of Revenue from Operations")/("Average Inventory")`
Cost of Revenue from Operations = Inventory in the beginning + Net Purchases + Wages + Carriage inwards – Inventory at the end
= Rs. 18,000 + Rs. 46,000 + Rs. 14,000 + Rs. 4,000 – Rs. 22,000
= Rs. 60,000
`"Average Inventory" = ("Inventory in the beginning + Inventory at the end")/(2)`
`=(Rs. 18,000 + Rs. 22,000)/(2)` = Rs. 20,000
`:. "Inventory Turnover Ratio"=(Rs. 60,000)/(Rs. 20,000) = 3` Times