Fairchild Garden Supply expects $600 million of sales this year, and it forecasts a 15% increase for next year. The CFO uses this equation to forecast inventory requirements at different levels of sales: Inventories = $30.2 0.25(Sales). All dollars are in millions. What is the projected inventory turnover ratio for the coming year?

Answer rating: 100% (QA)

Step 1 Calculate the next year sales as follows Next year sales S600 million x1015 S... View the full answer