Use the following to answer the given question

Opening stock ——————— #1,200  ____________ Sales —————- #29,000

Purchases——————————- #? ______________ Less sales return — #500

Add. Carriage Inwards ———– #300

Less return outwards ———— #1570

—————————————— #28,500

Less closing stock —————— #2220

Gross Profit (25% of sales)—— #28,500 ………………………………………………… #28,500

 

Use the following to answer the given question, What is the current ratio?

A. 1 : 1
B. 1 : 2
C. 3 : 1
D. 5 : 2
E. 6.8 : 7

Correct Answer: Option C

C. 3 : 1