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I know that rate of stock turnover = cost of goods sold/
average of stock.
average of stock = (opening stock + closing stock)/ 2
what happens if it is a new business with no opening stock?
do u take closing stock/2 or simply just take closing stock
as the average stock figure?
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Answer / sajeermoidu
HERE WE CAN TAKE CLOSIN STOCK AS AVERAGE STOCK,AVERAGE STOCK
IS CONSIDERED ONLY IF WE HAVE OPENING STOCK AND CLOSING
STOCK.
HERE
CGS/CLOSING STOCK=RATE OF STOCK TURN OVER
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