Meijer stores carries a specialty line of flavored syrups. One of the most popular of these is raspberry syrup which cells, on average, 55 bottles per week. Myers cost is nine dollars per bottle. Meijer has determined its order cost to be $54 in inventory Karen cost is 20%. Myers open for business 52 weeks per year. What is the EOQ?If Myers’s order the EOQ quantity each time, what will be the inventory turnover rate for the syrup? Problem 7-12 (Algo)Meyer Stores carries a specialty line of flavored syrups. One of the most popular of these is raspberry syrup which sells, on average,55 bottles per week. Meyer's cost is $9 per bottle. Meyer has determined its order cost to be $54 and inventory carrying cost is 20percent. Meyer is open for business 52 weeks per year.a. What is the EOQ for raspberry syrup? (Round up your answer to the next whole number.)EOQ11 unitsb. If Meyer orders the EOQ quantity each time, what will be the inventory turnover rate for raspberry syrup? (Hint Inventory turnover =Annual sales in units / Average inventory in units.) (Round your answer to 2 decimal places.)Inventory turnover rate33.65 times per yearPrev1 of 3Next >

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FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Meijer stores carries a specialty line of flavored syrups. One of the most popular of these is raspberry syrup which cells, on average, 55 bottles per week. Myers cost is nine dollars per bottle. Meijer has determined its order cost to be $54 in inventory Karen cost is 20%. Myers open for business 52 weeks per year. What is the EOQ? If Myers’s order the EOQ quantity each time, what will be the inventory turnover rate for the syrup?

Problem 7-12 (Algo)
Meyer Stores carries a specialty line of flavored syrups. One of the most popular of these is raspberry syrup which sells, on average,
55 bottles per week. Meyer's cost is $9 per bottle. Meyer has determined its order cost to be $54 and inventory carrying cost is 20
percent. Meyer is open for business 52 weeks per year.
a. What is the EOQ for raspberry syrup? (Round up your answer to the next whole number.)
EOQ
11 units
b. If Meyer orders the EOQ quantity each time, what will be the inventory turnover rate for raspberry syrup? (Hint Inventory turnover =
Annual sales in units / Average inventory in units.) (Round your answer to 2 decimal places.)
Inventory turnover rate
33.65 times per year
Prev
1 of 3
Next >

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