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Which of the following formulae is used to calculate stoc...

Which of the following formulae is used to calculate stock turnover rate?

A.

$\frac{sales}{\text{average stock}}$

B.

$\frac{\text{cost of sales}}{\text{average stock}}$

C.

$\frac{\text{cost of sales}}{\text{opening stock}}$

D.

$\frac{\text{cost of production}}{\text{average stock}}$

View answer & explanation

Correct answer is B

The inventory turnover ratio formula is the cost of goods sold divided by the average inventory for the same period.

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