Question: The following data are pulled from a recent Walsh Manufacturing annual report. Assets Raw material inventory $100,000 Work-in-process inventory $40,000 Finished goods inventory $40,000 Property,
The following data are pulled from a recent Walsh Manufacturing annual report.
Assets
| Raw material inventory | $100,000 |
| Work-in-process inventory | $40,000 |
| Finished goods inventory | $40,000 |
| Property, plant & equipment | $400,000 |
| Other assets | $300,000 |
| Total assets | $880,000 |
| Condensed Income Statement | |
| Revenue | $1,800,000 |
| Cost of goods sold | $900,000 |
| Other expenses | $600,000 |
| Net income | $300,000 |
Calculate:
(a) Percent invested in inventory
(b) Inventory turnover
(c) Weeks of supply.
PLEASE SHOW ALL WORK
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