cost amounted to $170,900. The inventory turnover rate published as the industry standard for a business of this size is 9.5 times. Round inventories to the nearest cent and inventory turnovers to the nearest tenth. (a) Calculate the average inventory (in $) and actual inventory turnover rate for the company. average inventory$ inventory turnover times (b) If the turnover rate is less than 9.5 times, calculate the target average inventory (in $) needed to theoretically come up to industry standards. If the turnover rate is greater than 9.5 times, enter "above". $
cost amounted to $170,900. The inventory turnover rate published as the industry standard for a business of this size is 9.5 times. Round inventories to the nearest cent and inventory turnovers to the nearest tenth. (a) Calculate the average inventory (in $) and actual inventory turnover rate for the company. average inventory$ inventory turnover times (b) If the turnover rate is less than 9.5 times, calculate the target average inventory (in $) needed to theoretically come up to industry standards. If the turnover rate is greater than 9.5 times, enter "above". $
Chapter12: Sequences, Series And Binomial Theorem
Section12.3: Geometric Sequences And Series
Problem 12.57TI: What is the total effect on the economy of a government tax rebate of $1,000 to each household in...
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A concrete corporation had cost of goods sold of $1,350,000 for the third quarter. The beginning inventory at cost was $125,000, and the ending inventory at cost amounted to $170,900. The inventory turnover rate published as the industry standard for a business of this size is 9.5 times. Round inventories to the nearest cent and inventory turnovers to the nearest tenth.
(a)
Calculate the average inventory (in $) and actual inventory turnover rate for the company.
average inventory$ inventory turnover times
(b)
If the turnover rate is less than 9.5 times, calculate the target average inventory (in $) needed to theoretically come up to industry standards. If the turnover rate is greater than 9.5 times, enter "above".
$
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