The plant manager at Track Technologies collected some performance metrics of his manufacturing facility. The table...

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The plant manager at Track Technologies collected some performance metrics of his manufacturing facility. The table below shows the financial data available for last year and this year. Last year This year Sales $215,000 $228,000 Costs of goods sold $121,000 $131,000 Gross margin $94,000 $97,000 Net income $45,000 $48,000 Finished goods inventory $2,000 $5,000 WIP Inventory $10,000 $12,000 Raw Material Inventory $5,000 $6,000 Total inventory (avg/year) $17,000 $23,000 Other current assets $91,000 $110,000 Other assets $213,000 $242,000 Total Assets $321,000 $375,000 1) Based on the total inventory, what was the inventory turnover for last vear? What is the inventory turnover for this year? (0.2 points) 2) Has turnover improved this year? Calculate the percent change. (0.2 points) 3) What was the company's percentage of assets committed to inventory last year? What is the percentage of assets committed to inventory this year? (0.2 points) 4) How many weeks of finished goods were at hand at the end of last year? How much were at hand at the end of this year? (0.2 points) 5) Based on weeks of inventory, was there any improvement in the company's operations? Calculate the percent change and explain. (0.2 points) The plant manager at Track Technologies collected some performance metrics of his manufacturing facility. The table below shows the financial data available for last year and this year. Last year This year Sales $215,000 $228,000 Costs of goods sold $121,000 $131,000 Gross margin $94,000 $97,000 Net income $45,000 $48,000 Finished goods inventory $2,000 $5,000 WIP Inventory $10,000 $12,000 Raw Material Inventory $5,000 $6,000 Total inventory (avg/year) $17,000 $23,000 Other current assets $91,000 $110,000 Other assets $213,000 $242,000 Total Assets $321,000 $375,000 1) Based on the total inventory, what was the inventory turnover for last vear? What is the inventory turnover for this year? (0.2 points) 2) Has turnover improved this year? Calculate the percent change. (0.2 points) 3) What was the company's percentage of assets committed to inventory last year? What is the percentage of assets committed to inventory this year? (0.2 points) 4) How many weeks of finished goods were at hand at the end of last year? How much were at hand at the end of this year? (0.2 points) 5) Based on weeks of inventory, was there any improvement in the company's operations? Calculate the percent change and explain. (0.2 points)

Answer rating: 100% (QA)

1 Inventory turnover ratio Cost of goods sold Total Inventory 121000 17000 131... View the full answer