Which financial statement(s)is/are needed in order to calculate the average days in inventory?

Question

Quizplus · Accepted Answer

both the income statement and balance sheets are needed to calculate the average days in inventory. The balance sheet provides the beginning and ending inventory values, while the income statement provides the cost of goods sold for the period. With this information, the average days in inventory can be calculated.

Which Financial Statement(s)is/are Needed in Order to Calculate the Average