a. Express total inventory as weeks of supply. The weeks of supply is weeks. (Enter your response rounded to one decimal place.) b. Express total inventory as inventory turns. The inventory turnover is turns per year. (Enter your response rounded to one decimal place.)
a. Express total inventory as weeks of supply. The weeks of supply is weeks. (Enter your response rounded to one decimal place.) b. Express total inventory as inventory turns. The inventory turnover is turns per year. (Enter your response rounded to one decimal place.)
Practical Management Science
6th Edition
ISBN:9781337406659
Author:WINSTON, Wayne L.
Publisher:WINSTON, Wayne L.
Chapter2: Introduction To Spreadsheet Modeling
Section: Chapter Questions
Problem 20P: Julie James is opening a lemonade stand. She believes the fixed cost per week of running the stand...
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![Jack Jones, the materials manager at Precision Enterprises, is beginning to look for ways to reduce inventories. A recent accounting statement shows that the inventory
investment for raw materials is $3,770,600, for work-in-process is $7,074,000, and for finished goods is $2,866,000. This year's cost of goods sold will be about $32,396,000.
Assume that there are 52 business weeks per year.
a. Express total inventory as weeks of supply.
The weeks of supply is
b. Express total inventory as inventory turns.
The inventory turnover is
weeks. (Enter your response rounded to one decimal place.)
turns per year. (Enter your response rounded to one decimal place.)](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Ffb04437b-3f7e-4496-ba03-3a7f713d70b1%2F037e770c-6079-4a55-9ed5-a5d544f17611%2Fg30pxf_processed.png&w=3840&q=75)
Transcribed Image Text:Jack Jones, the materials manager at Precision Enterprises, is beginning to look for ways to reduce inventories. A recent accounting statement shows that the inventory
investment for raw materials is $3,770,600, for work-in-process is $7,074,000, and for finished goods is $2,866,000. This year's cost of goods sold will be about $32,396,000.
Assume that there are 52 business weeks per year.
a. Express total inventory as weeks of supply.
The weeks of supply is
b. Express total inventory as inventory turns.
The inventory turnover is
weeks. (Enter your response rounded to one decimal place.)
turns per year. (Enter your response rounded to one decimal place.)
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