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.)

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.)

Marketing

20th Edition

ISBN:9780357033791

Author:Pride, William M

Publisher:Pride, William M

Chapter19: Pricing Concepts

Section: Chapter Questions

Problem 6DRQ

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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