Happy Valley Homecare Suppliers, Incorporated (HVHS), had $19.8 million in sales in 2015. Its cost of goods sold was $7.92 million, and its averageinventory balance was $1.83 million.a. Calculate the average number of days inventory outstanding ratios for HVHS.b. The average number of inventory days in the industry is 73 days. By how much must HVHS reduce its investment in inventory to improve its inventorydays to meet the industry?(Hint: Use a 365-day year.)...a. Calculate the number of days inventory outstanding ratios for HVHS.The number of inventory days outstanding isdays. (Round to two demical places.)b. The average number of inventory days in the industry is 73 days. By how much must HVHS reduce its investment in inventory to improve its inventorydays to meet the industry?To match the industry average number of inventory days, HVHS would reduce its inventory by $million. (Round to three decimal place.)

Given, Sales in 2015=$19.8 million Average Inventory Balance, (AIB)=$1.83 million Cost of goods…

Answered: Happy Valley Homecare Suppliers,…

Advanced Engineering Mathematics

10th Edition

ISBN:9780470458365

Author:Erwin Kreyszig

Publisher:Erwin Kreyszig

Chapter2: Second-order Linear Odes

Section: Chapter Questions

Problem 1RQ

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