Sticky Fingers Inc. produces packing and masking tape. Last year’s annual report has been compiled, and you are in charge of business analysis for the year. The company had a goal for inventoryturnover of 6 for last year. The actual results were cost of goods sold of $400,000, beginning inventory of $50,000, and ending inventory of $70,000. What was the actual inventory turnover, and atwhat percent did the firm achieve its goal?

Practical Management Science
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Chapter2: Introduction To Spreadsheet Modeling
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Sticky Fingers Inc. produces packing and masking tape. Last year’s annual report has been compiled, and you are in charge of business analysis for the year. The company had a goal for inventory
turnover of 6 for last year. The actual results were cost of goods sold of $400,000, beginning inventory of $50,000, and ending inventory of $70,000. What was the actual inventory turnover, and at
what percent did the firm achieve its goal?

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