Question: The following data are pulled from a recent Walsh Manufacturing annual report. Assets Raw material inventory $120,000 Work-in-process inventory $45,000 Finished goods inventory $200,000 Property,
The following data are pulled from a recent Walsh Manufacturing annual report.
| Assets | |
| Raw material inventory | $120,000 |
| Work-in-process inventory | $45,000 |
| Finished goods inventory | $200,000 |
| Property, plant & equipment | $500,000 |
| Other assets | $200,000 |
| Total assets | $1,170,000 |
| Condensed Income Statement | |
| Revenue | $2,000,000 |
| Cost of goods sold | $500,000 |
| Other expenses | $1,000,000 |
| Net income | $400,000 |
Calculate: (a) Percent invested in inventory, (b) Inventory turnover, and (c) Weeks of supply. Keep one decimal place.
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