Question Completion Status: 4 9 10 11 12 13 14 15 16 17 18 19 To preverungen Question 5 4 points Save Anger A firm's cost of goods sold last year was $3,100,000, net revenue of $6,000,000, caries assets totaling $9,500,000 on the books and operates 48 weeks per year. The table below contains the last year inventory level for each item of inventory along with its value. Competitors in the same market have standard inventory turns of 8. Category Part Number Average Level Unit Value Total Aggregate Value Raw Materials 1 15000 $3.00 $45,000.00 2 3000 $5.00 $15,000.00 3 3000 $1.00 $3,000.00 Work in Process 4 5000 $14.00 $70,000.00 5 4000 $18.00 $72,000.00 Finish Goods 6 2000 $48.00 $96,000.00 7 3000 S62.00 $186.000.00 Totals $487.000.00 Calculate the following: 1. How many weeks of supply does the firm maintain? 2. What was the inventory turns for last year? 3. What is the percentage of assets committed to inventory? 4. How does this firm compare to the industry standard? Better or worse? Explain. TT T Arial 3 (12) T- EN o Type here to search