Question: Jack Jones, the materials manager at Precision Enterprises, is beginning to look for ways to reduce inventories. A recent accounting statement shows that the inventory

Jack Jones, the materials manager at Precision Enterprises, is beginning to look for ways to reduce inventories. A recent accounting statement shows that the inventory investment for raw materials is $3,763,500, for work-in-process is $6,583,000, and for finished goods is $2,665,000. This year's cost of goods sold will be about $22,672,000. Assume that there are 52 business weeks per year.

a. Express total inventory as weeks of supply. (rounded to 1 decimal place) The weeks of supply is ___ weeks.

b.Express total inventory as inventory turns.

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:

Do the second one based on the first one question Homework: Chapter ... Question 1, Problem 3 on HW Score: 0%, 0 of 3 points Part 2 of 2 Points: 0 of 1 Save Jack Jones, the materials manager at...

Q:

Problem 3 Jack Jones, the materials manager at Precision Enterprises, is beginning to look for ways to reduce inventories. A recent accounting statement shows $6,665,000, and for finished goods is...

Q:

Jack Jones, the materials manager at Precision Enterprises, is beginning to look for ways to reduce inventories. A recent accounting statement shows the following inventory investment by category raw...

Q:

Jack Jones, the materials manager at Precision Enterprises, is beginning to look for ways to reduce inventories. A recent accounting statement shows the following inventory investment by category:...

Q:

Cyberphone, a manufacturer of cell phone accessories, ended the current year with annual sales (at cost) of $48 million. During the year, the inventory of accesso- ries turned over six times. For the...

Q:

Jack Jones, the materials manager at Precision Enterprises, is beginning to look for ways to reduce inventories. A recent accounting statement shows that the inventory investment for raw materials is

Q:

Jack Jones, the materials manager at Precision Enterprises, is beginning to look for ways to reduce inventories. A recent accounting statement shows that the inventory investment for raw materials is

Q:

Jack Jones, the materials manager at Precision Enterprises, is beginning to look for ways to reduce inventories. A recent accounting statement shows that the inventory investment for raw materials is

Q:

Jack Jones, the materials manager at Precision Enterprises, is beginning to look for ways to reduce inventories. A recent accounting statement shows that the inventory investment for raw materials is

Q:

Jack? Jones, the materials manager at Precision? Enterprises, is beginning to look for ways to reduce inventories. A recent accounting statement shows that the inventory investment for raw materia

Q:

Purpose: To help you understand and compare the performance of two companies in the same industry. Go to the Columbia Sportswear Company Annual Report located in Appendix A. Now access the 2010...

Q:

Mannose, one of the eight essential monosaccharide?s (Section 25.7), is biosynthesized as its 6-phosphate derivative from fructose 6-phosphate. No enzyme cofactor is required. Propose a mechanism....

Q:

The federal governent requires mortgage lender to provide information about the actual cost of credit

Q:

atch the compensation objectives with their meanings. Efficiency Efficiency drop zone empty. Fairness Fairness drop zone empty. Compliance Compliance drop zone empty. Improving performance and...