Homework Help is Here – Start Your Trial Now!
Business
Operations Management
Problem 16-15 (Algo) The owner of a large machine shop has just finished its financial analysis from the prior fiscal year. Following is an excerpt from the final report: Net revenue Cost of goods sold Value of production materials on hand Value of work-in-process inventory Value of finished goods on hand $350,000 307,000 42,500 47,000 17,500 a. Compute the inventory turnover ratio (ITR). (Round your answer to 1 decimal place.) Inventory turnover ratio per year

Problem 16-15 (Algo) The owner of a large machine shop has just finished its financial analysis from the prior fiscal year. Following is an excerpt from the final report: Net revenue Cost of goods sold Value of production materials on hand Value of work-in-process inventory Value of finished goods on hand $350,000 307,000 42,500 47,000 17,500 a. Compute the inventory turnover ratio (ITR). (Round your answer to 1 decimal place.) Inventory turnover ratio per year

Practical Management Science
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...
See similar textbooks
icon
Related questions
Question
Problem 16-15 (Algo) The owner of a large machine shop has just finished its financial analysis from the prior fiscal year. Following is an excerpt from the final report: Net revenue Cost of goods sold Value of production materials on hand Value of work-in-process inventory Value of finished goods on hand Inventory turnover ratio $350,000 307,000 a. Compute the inventory turnover ratio (ITR). (Round your answer to 1 decimal place.) Weeks of supply 42,500 47,000 17,500 per year b. Compute the weeks of supply (WS). (Do not round intermediate calculations. Round your answer to 1 decimal place.)
Transcribed Image Text:Problem 16-15 (Algo) The owner of a large machine shop has just finished its financial analysis from the prior fiscal year. Following is an excerpt from the final report: Net revenue Cost of goods sold Value of production materials on hand Value of work-in-process inventory Value of finished goods on hand Inventory turnover ratio $350,000 307,000 a. Compute the inventory turnover ratio (ITR). (Round your answer to 1 decimal place.) Weeks of supply 42,500 47,000 17,500 per year b. Compute the weeks of supply (WS). (Do not round intermediate calculations. Round your answer to 1 decimal place.)
Expert Solution
steps

Step by step

Solved in 2 steps

SEE SOLUTIONCheck out a sample Q&A here
Blurred answer
Similar questions
Recommended textbooks for you
Practical Management Science
Practical Management Science
Operations Management
ISBN:
9781337406659
Author:
WINSTON, Wayne L.
Publisher:
Cengage,
Operations Management
Operations Management
Operations Management
ISBN:
9781259667473
Author:
William J Stevenson
Publisher:
McGraw-Hill Education
Operations and Supply Chain Management (Mcgraw-hi…
Operations and Supply Chain Management (Mcgraw-hi…
Operations Management
ISBN:
9781259666100
Author:
F. Robert Jacobs, Richard B Chase
Publisher:
McGraw-Hill Education
Business in Action
Business in Action
Operations Management
ISBN:
9780135198100
Author:
BOVEE
Publisher:
PEARSON CO
Purchasing and Supply Chain Management
Purchasing and Supply Chain Management
Operations Management
ISBN:
9781285869681
Author:
Robert M. Monczka, Robert B. Handfield, Larry C. Giunipero, James L. Patterson
Publisher:
Cengage Learning
Production and Operations Analysis, Seventh Editi…
Production and Operations Analysis, Seventh Editi…
Operations Management
ISBN:
9781478623069
Author:
Steven Nahmias, Tava Lennon Olsen
Publisher:
Waveland Press, Inc.
SEE MORE TEXTBOOKS