Hi mike
In example 2 page 116 you calculated inventory turnover as cost of sales / closing inventory. Are we not suppose to use average inventory (closing + opening /2)..is the reason for not using this because we don't know opening inventory for 2008?
Also in the investors ratios what is the mid market price and how would be obtain it from a set of financial statements?
Cheers
Hugh
Ask the Tutor ACCA TX-UK
Ratio analysis
I have a strong suspicion that you probably didn't intend to post this on F6! I am sure Mike will be happy to oblige - when you ask him! Cheers
Thanks tax tutor I have already completed f6 I will catch you again for the next tax exam! Hopefully!
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