MW has sales of £700,000 per year. Its costs as a percentage of sales are as follows:

Raw materials are carried in inventory for two weeks and finished goods are held in inventory for three weeks. Production takes four weeks. MW takes four weeks’ credit from suppliers and gives eight weeks’ credit to its customers. If both overheads and production are incurred evenly throughout the year, what is MW’s total working capital requirement?

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% Raw materials Direct labour Overheads 20 35 15