Question: 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

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 inventory value for this product last year? Round your answer to the nearest dollar.

What would be the average inventory level if inventory turns could be increased to 5.9? Round your answer to the nearest dollar.

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