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 materialsis $4,100,400, for work-in-process is $6,538,000, and for finished goods is $2.964,000. This year's cost of goods sold will be about $18,148.000. Assume that there are 52 business weeks per yeara. 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 tums.The inventory turnover isturns per year. (Enter your response rounded to one decimal place.)

Raw materials = 4100400 Work in progress = 6538000 Finished goods = 2964000 COGS = 18148000 Working…

Answered: Jack Jones, the materials manager at…

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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