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$375,000Cost of goods sold322,000Value of production materials on-hand42,500Value of work-in-process inventory37,000Value of finished goods on-hand12,500Compute the inventory turnover ratio (ITR).Note: Round your answer to 1 decimal place. Compute the weeks of supply (WS).Note: Do not round intermediate calculations. Round your answer to 1 decimal place.

The above answer can be explained as under - 1. Inventory turnover ratio = Cost of goods sold /…

Answered: The owner of a large machine shop has…

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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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	$375,000
Cost of goods sold	322,000
Value of production materials on-hand	42,500
Value of work-in-process inventory	37,000
Value of finished goods on-hand	12,500

Compute the inventory turnover ratio (ITR).

Note: Round your answer to 1 decimal place.
Compute the weeks of supply (WS).

Note: Do not round intermediate calculations. Round your answer to 1 decimal place.

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