Problem #1-3: The Smith distribution center has provided you with the following data (Table 2) on average inventories of raw materials, work-in-process, and finished goods for their year 2018 operations The best inventory turnover in the company's industry is six turns per year. If the company uses 52 business weeks per year, determine: 1- how many weeks of supply were held in inventory? 2- What was the inventory turnover? 3- What should the company do to approach the ideal inventory turnovero6. What is the impact of your proposal on yearly revenue and the final inventory turnover and days in inventory? Category of inventory Item Number Raw material Work-in-Process 2 3 4 5 6 7 8 9 10 Table 2: Data on Inventory $ Value/unit Average level ((units) $50 1400 $32 1000 $60 400 $700 320 $900 160 $750 280 $2000 60 $3500 40 $1200 50 $1500 20 Revenue ($1000) =cost of goods sold 97.2 112 101.8 1351.3 213.5 323 1127 980 667 189 Finished Goods