Question: Bragg Johnson, materials manager at Johnson & Sons, has determined that a certain product experienced 3 . 1 turns last year, with an annual sales

Bragg Johnson, materials manager at Johnson & Sons, has determined that a certain product experienced 3.1 turns last year, with an annual sales volume (at cost) of $963,000. What was the average inventory value for this product last year? Round your answer to the nearest dollar.

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related General Management Questions!

Q:

Based on the following information, how many days of supply of inventory is the firm holding (assume 260 days of operation per year)? Do not round intermediate calculations. Round your answer to one...

Q:

2. Bragg Johnson, materials manager at Johnson & Sons, has determined that a certain product experienced 3.8 turns last year, with an annual sales volume (at cost) of $975,000. What was the average...

Q:

Chapter 1 1 8 . Super K Beverage Company distributes a soft drink that has a constant annual demand rate of 4 , 6 0 0 cases. A 1 2 - pack case of the soft drink costs Super K $ 2 . 2 5 . Ordering...

Q:

Assignment # 5 - Inventory Management Work from both Chapters 1 1 and 1 2 Chapter 1 1 : 3 . The Welsh Corporation uses 1 3 key components in one of its manufacturing plants. The data are provided...

Q:

Bragg Johnson, materials manager at Johnson & Sons, has determined that a certain product experienced 3.3 turns last year, with an annual sales volume (at cost) of $983,000. What was the average...

Q:

Bragg Johnson, materials manager at Johnson & Sons, has determined that a certain product experienced 3.8 turns last year, with an annual sales volume (at cost) of $975,000. What was the average...

Q:

Problem 2 8 : ( 1 point ) Bragg Johnson, materials manager at Johnson & Sons, has determined that a certain product experienced 3 . 8 turns last year, with an annual sales volume ( at cost ) of $ 9 7...

Q:

Bragg Johnson, materials manager at Johnson & Sons, has determined that a certain product experienced 3.6 turns last year, with an annual sales volume (at cost) of $964,000. What was the average...

Q:

Bragg Johnson, materials manager at Johnson & Sons, has determined that a certain product experienced 3.5 turns last year, with an annual sales volume (at cost) of $973,000. What was the average...

Q:

Bragg Johnson, materials manager at Johnson & Sons, has determined that a certain product experienced 3 . 9 turns last year, with an annual sales volume ( at cost ) of $ 9 7 4 , 0 0 0 . What was the...

Q:

A furnace with an aperture of 20-mm diameter and emissive power of 3.72 x 105 W/m2 is used to calibrate a heat flux gage having a sensitive area of 1.6 x 10-5 m2. (a) At what distance, measured along...

Q:

Beacon Company is considering purchasing new equipment for $350,000.The equipment has a 5-year useful life, and depreciation would be $70,000 (assuming straight-line depreciation and zero salvage...

Q:

Based upon a specific rate of return, I anticipate an investment that I make today will be worth $ 1 , 1 1 7 in one year. $ 1 , 1 1 7 is the _ _ _ _ _ _ _ _ of my investment. Answer rate of return...

Q:

Note: This problem is for the 2018 tax year. Daniel B. Butler and Freida C. Butler, husband and wife, file a joint return. The Butlers live at 625 Oak Street in Corbin, KY 40701. Dan's Social...