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 $ for workinprocess is
$ and for finished goods is $ This year's cost of goods sold will be about $ Assume that
there are business weeks per year.
a Express total inventory as weeks of supply.
The weeks of supply is
weeks. Enter your response rounded to one decimal place.
b Express total inventory as inventory turns.
The inventory turnover is
turns per year. Enter your response rounded to one decimal place.
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