Question $25$

$2$ pts

The average inventory at Beech Industries, comprising raw materials, work$-$in$-$process, and finished goods, was found to be $$19\mathrm{.}2$ million last year. If the cost of goods sold per week averaged $$1\mathrm{.}52$ million, what was the inventory turnover experienced by Hamilton Industries? Assume the company had $52$ working weeks per year.

Weeks $of$ supply $=\frac{\text{a}\text{v}\text{e}\text{r}\text{a}\text{g}\text{e}\text{a}\text{g}\text{g}\text{r}\text{e}\text{g}\text{a}\text{t}\text{e}\text{i}\text{n}\text{v}\text{e}\text{n}\text{t}\text{o}\text{r}\text{y}\text{v}\text{a}\text{l}\text{u}\text{e}}{\text{w}\text{e}\text{e}\text{k}\text{l}\text{y}\text{s}\text{a}\text{l}\text{e}\text{s}}$

Inventory turnover $=\frac{\text{a}\text{n}\text{n}\text{u}\text{a}\text{l}\text{s}\text{a}\text{l}\text{e}\text{s}}{\text{a}\text{v}\text{e}\text{r}\text{a}\text{g}\text{e}\text{a}\text{g}\text{g}\text{r}\text{e}\text{g}\text{a}\text{t}\text{e}\text{i}\text{n}\text{v}\text{e}\text{n}\text{t}\text{o}\text{r}\text{y}\text{v}\text{a}\text{l}\text{u}\text{e}}$

$$ greater than $3\mathrm{.}75$ but less than $4\mathrm{.}00$

less than or equal to $3\mathrm{.}50$

greater than $4\mathrm{.}00$

greater than $3\mathrm{.}50$ but less than $3\mathrm{.}75$