Last Year, RJT Enterprises Had Average Inventories (Raw Materials, Work-In-Process

question 70

Essay

Last year, RJT Enterprises had average inventories (raw materials, work-in-process, and finished goods) of $7.5 million. During this same year the cost of goods sold was $30 million. The company operates 50 weeks per year.
a. What is their total inventory (measured as weeks of supply)?
b. What is their inventory turnover?

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