Q21The 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$348,000Cost of goods sold 305,000Value of production materials on-hand 42,500Value of work-in-process inventory 67,000Value of finished goods on-hand 27,500 a. Compute the inventory turnover ratio (ITR). (Round your answer to 1 decimal place.)b. Compute the weeks of supply (WS). (Do not round intermediate calculations. Round your answer to 1 decimal place.)

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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...

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Q21

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	$	348,000
Cost of goods sold		305,000
Value of production materials on-hand		42,500
Value of work-in-process inventory		67,000
Value of finished goods on-hand		27,500

a. Compute the inventory turnover ratio (ITR). (Round your answer to 1 decimal place.)

b. Compute the weeks of supply (WS). (Do not round intermediate calculations. Round your answer to 1 decimal place.)

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