Question: 3. The following data are pulled from a recent Walsh Manufacturing annual report. Assets Raw material inventory $120,000 Work-in-process inventory $90,000 Finished goods inventory $300,000

3. The following data are pulled from a recent Walsh Manufacturing annual report. Assets Raw material inventory $120,000 Work-in-process inventory $90,000 Finished goods inventory $300,000 Property, plant & equipment $900,000 Other assets $280,000 Total assets $1,690,000 Condensed Income Statement Revenue $2,700,000 Cost of goods sold $900,000 Other expenses $1,000,000 Net income $800,000 Calculate: (a) Percent invested in inventory, (b) Inventory turnover, and (c) Weeks of supply.

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