**Inventory Turnover Analysis: Baker Mfg Inc.****Overview:**Jenna Baker, CEO of Baker Mfg Inc., aims to compare her company's inventory turnover against industry leaders, which typically have a turnover rate of about 13 times per year and 8% of their assets invested in inventory.**Company Financials:**- **Net Revenue:** $27,500- **Cost of Sales:** $19,850- **Inventory:** $1,290- **Total Assets:** $17,410**Analysis Question:**a) **Inventory Turnover Calculation:**- What is Baker's inventory turnover? To determine this, use the formula for inventory turnover:\[ \text{Inventory Turnover} = \frac{\text{Cost of Sales}}{\text{Inventory}} \]Insert the values:\[ \text{Inventory Turnover} = \frac{19,850}{1,290} \]Calculate and round your response to two decimal places.

Given data: Net Revenue = $27,500 Cost of sales = $19,850 Inventory = $1,290 Total assets =$17,410

Answered: Jenna Baker, CEO of Baker Mfg Inc.,…

Practical Management Science

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Problem 20P: Julie James is opening a lemonade stand. She believes the fixed cost per week of running the stand...

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K Jenna Baker, CEO of Baker Mfg Inc., wishes to compare her company's inventory turnover to those of industry leaders, who have turnover of about 13 times per year and 8% of their assets invested in inventory. Baker Mfg. Inc. Net Revenue $27,500 $21,840 $1,240 $16,700 Cost of sales Inventory Total assets a) What is Baker's inventory turnover? ☐ times per year (round your response to two decimal places).
Please answer quick in an hour.
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Baker Mfg Inc. wishes to compare its inventory turnover to those of industry leaders, who have turnover of about 13 times per year and 8% of their assets invested in inventory. Baker Mfg. Inc. Net Revenue $27,500 Cost of sales $20,000 Inventory $1,210 Total assets $16,880 Part 2 a) What is Baker's inventory turnover? _______ times per year (round your response to two decimal places). Part 3 b) What is Baker's percentage of assets committed to inventory? __________% (enter your response as a percentage rounded to two decimal places). Part 4 c) How does Baker's performance compare to the industry leaders? ▼ Better? In line with industry? Worse?
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