The average inventory and inventory turnover rounded off to nearest tenth of Satellite Communications which had net sale of $2,650,000 and beginning and ending inventory are provided as $495,000 and $380,000 respectively. Also, calculate the target average inventory needed to theoretically come up to the industry standards if the turnover is less than 7 times.

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Chapter 16.III, Problem 9TIE

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To calculate: The average inventory and inventory turnover rounded off to nearest tenth of Satellite Communications which had net sale of $2,650,000 and beginning and ending inventory are provided as $495,000 and $380,000 respectively. Also, calculate the target average inventory needed to theoretically come up to the industry standards if the turnover is less than 7 times.

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