The Ashton Furniture Company manufactures coffee tables and chests of drawers. Last year the company€™s cost of goods sold was $3.7 million, and it carried inventory of oak, pine, stains, joiners, and brass fixtures; work-in-process of furniture frames, drawers, and wood panels; and finished chests and coffee tables. Its average inventory levels for a 52-week business year were as follows.

Determine the number of inventory turns and the days of supply for the furniture company.

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Raw Materials Average Inventory Unit Cost Oak 8000 $6.00 Pine 4500 4.00 Brass fixtures 1200 8.00 Stains 3000 2.00 Joiners 900 1.00 Work-in-Process Frames 200 $30 Drawers 400 10 Panels 600 50 Chests 120 110 Tables 90 90 Finished Goods $500 Chests 300 Coffee tables 200 350