Which of the following terms does NOT relate to calculating Cost of Goods Sold (COGS)?

The term that does not relate to calculating Cost of Goods Sold (COGS) is indeed the Debt to Equity Ratio. COGS is determined using specific elements involved in the production and sales of goods, particularly focusing on inventory management.

COGS is primarily calculated using the formula:

COGS = Opening Stock + Purchases - Closing Stock

Opening Stock refers to the value of inventory that a business has at the beginning of a period, while Purchases are the additional goods bought during that period. Closing Stock represents the inventory left unsold at the end of the period. All these elements are integral to determining how much it cost to produce or acquire the goods that were sold during the period.

On the other hand, the Debt to Equity Ratio is a financial ratio that compares a company’s total debt to its shareholders’ equity, reflecting the proportion of funding that comes from creditors versus owners. This ratio is more related to analyzing a company's leverage and financial stability rather than operational aspects such as COGS.

Thus, the Debt to Equity Ratio stands apart from the core components involved in calculating COGS.