The Average Inventory Comprising Raw Materials, Work- In- Process, and Finished

question 124

Essay

The average inventory comprising raw materials, work- in- process, and finished goods, was found to be $18.4 million last year. If the cost of goods sold per week averaged $1.12 million. Assume the company had 50 working weeks per year.
a. What is their total inventory (measured as weeks of supply)?
b. What is their inventory turnover?

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