Answered: Net roverue $375,000 Cost of goods soid…

Net roverue $375,000 Cost of goods soid Value of producton matertals on hand Vaue of workin-process inventory valuo of firished geods on hand 322,000 42,500 37,000 12,500

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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Question

The owner of a large machine shop has just i nished its i nancial analysis from the prior fiscal year. Following is an excerpt from the i nal report:
a. Compute the inventory turnover ratio (ITR).
b. Compute the weeks of supply (WS).

Net roverue
$375,000
Cost of goods soid
Value of producton matertals on hand
Vaue of workin-process inventory
valuo of firished geods on hand
322,000
42,500
37,000
12,500

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