A Television Manufacturer Would Like to Reduce Its Inventory

question 24

Essay

A television manufacturer would like to reduce its inventory.To this end,you are asked by the operations manager to assess its inventory level.You have the following information on inventories form last year's financial statement:
Raw materials $1,500,000
Work-in-process $1,200,000
Finished goods $ 800,000
In addition,the cost of goods sold last year (50 weeks)was $20 million.
a.What is their total inventory (measured as weeks of supply)?
b.What is their inventory turnover?

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Definitions:

Genetic Variations

Differences in DNA sequences among individuals, which contribute to the biological diversity and heritable traits within a population.

Spontaneously Mutate

Refers to the process by which an organism's DNA changes without external influence, leading to genetic variation.

Natural Selection

A process in evolutionary biology where organisms better adapted to their environment tend to survive and produce more offspring.

Sociobiologists

Scientists who study the biological basis of all forms of social behavior, including in humans, in the context of evolution.