How do you calculate turnover of financial statement?

Turnover in a financial statement typically refers to revenue or sales generated by a company during a specific period. To calculate turnover, you sum all the sales transactions within that period, excluding returns, allowances, and discounts. This figure can be found on the income statement, often labeled as "total revenue" or "net sales." Additionally, turnover can also refer to inventory turnover, calculated by dividing the cost of goods sold (COGS) by the average inventory during the period.