Problem 13-16The McDonald's fast-food restaurant on campus sells an average of 4,000 quarter-pound hamburgers each week. Hamburger patties are resupplied twice a week, and on average the store has 350 pounds ofhamburger in stock. Assume that the hamburger patties cost $1.00 a pound and there are 52 weeks in a year.a. What is the inventory turnover for the hamburger patties? (Do not round intermediate calculations. Round your answer to 2 decimal places.)Inventory turnoverper yearb. On average, how many days of supply are on hand? (Do not round intermediate calculations. Round your answer to 2 decimal places.)Average days of supply

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Asked Dec 1, 2019
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Problem 13-16
The McDonald's fast-food restaurant on campus sells an average of 4,000 quarter-pound hamburgers each week. Hamburger patties are resupplied twice a week, and on average the store has 350 pounds of
hamburger in stock. Assume that the hamburger patties cost $1.00 a pound and there are 52 weeks in a year.
a. What is the inventory turnover for the hamburger patties? (Do not round intermediate calculations. Round your answer to 2 decimal places.)
Inventory turnover
per year
b. On average, how many days of supply are on hand? (Do not round intermediate calculations. Round your answer to 2 decimal places.)
Average days of supply
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Problem 13-16 The McDonald's fast-food restaurant on campus sells an average of 4,000 quarter-pound hamburgers each week. Hamburger patties are resupplied twice a week, and on average the store has 350 pounds of hamburger in stock. Assume that the hamburger patties cost $1.00 a pound and there are 52 weeks in a year. a. What is the inventory turnover for the hamburger patties? (Do not round intermediate calculations. Round your answer to 2 decimal places.) Inventory turnover per year b. On average, how many days of supply are on hand? (Do not round intermediate calculations. Round your answer to 2 decimal places.) Average days of supply

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Expert Answer

Step 1

a)

Determine the inventory turnover:

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Cost of goods sold Inventory turnover Average inventory Average sales per weekx Cost x Number of weeks per year Average inventory 4000 x$1.00 x 52 4 350 1000 x1x 52 350 =148.57 per year

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Step 2

b)

Determine the average days of supply:...

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Average inventory Cost of goods sold Average days of supply Average inventory xDays in a week xWeeks in a year Average sales per week x Cost x | Number of weeks per year 350 -x 7x 52 4000 x $1.00x 52 350 -x 7 x52 1000 x1x 52 = 2.45 days

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