Question: y Problems ( i Akers Incorporated maintains an average inventory of $ 1 , 5 0 0 , 0 0 0 ( at cost )

y Problems (i
Akers Incorporated maintains an average inventory of $1,500,000(at cost). Last year, Akers' sales volume was $15,000,000 and cost of goods sold was $8,400,000. Akers has determined that its inventory carrying cost is 15 percent annually.
a. What was the inventory turnover rate?
b. How much was the inventory carrying cost for the year?
y Problems (i Akers Incorporated maintains an average inventory of $1,500,000(at

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