Accounting for IGCSE & O level - Advanced Principles (Section 7 - No. 25)
Which financial statement is used to calculate the inventory turnover ratio?
Balance sheet.
Income statement.
Cash flow statement.
Statement of changes in equity.
הֶסבֵּר
Both the cost of goods sold (from the income statement) and inventory (usually from the balance sheet) are required to calculate the inventory turnover ratio.