Question: The following data are pulled from a recent Walsh Manufacturing annual report. Assets Raw material inventory $120,000 Work-in-process inventory $50,000 Finished goods inventory $300.000 Property,

The following data are pulled from a recent Walsh

The following data are pulled from a recent Walsh Manufacturing annual report. Assets Raw material inventory $120,000 Work-in-process inventory $50,000 Finished goods inventory $300.000 Property, plant & equipment $500,000 Other assets $200,000 Total assets $1,170,000 Condensed Income Statement $2,000,000 Revenue $600,000 Cost of goods sold $1,000,000 Other expenses $400,000 Net income Calculate: (a) Percent invested in inventory (please enter in decimals (b) Inventory turnover (C) Weeks of supply

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