How many weeks of supply does summit logistics Inc. Hold ? Accounting question Summit Logistics Inc. has an annual net income of $7.5 billion, total revenue of $65.8 billion,and a cost of goods sold of $30 billion. If the balance sheet reports $3.8 billion of inventory,how many weeks of supply does Summit Logistics Inc. hold?

Step 1: Definition of Weeks of SupplyWeeks of Supply is a key inventory metric that measures how…

Answered: Summit Logistics Inc. has an annual net…

EBK CONTEMPORARY FINANCIAL MANAGEMENT

14th Edition

ISBN:9781337514835

Author:MOYER

Publisher:MOYER

Chapter3: Evaluation Of Financial Performance

Section: Chapter Questions

Problem 14P

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Summit Logistics Inc. has an annual net income of $7.5 billion, total revenue of $65.8 billion, and a cost of goods sold of $30 billion. If the balance sheet reports $3.8 billion of inventory, how many weeks of supply does Summit Logistics Inc. hold?