Based on the data in Table 11.10 determine:

a) How many weeks of finished goods were on hand at the end of last year.

b) How many weeks of finished goods were on hand at the end of this year. lop5

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TABLE 11.10 For Problems 11.9, 11.10, and 11.11 Sales Cost of goods sold Gross margin LAST YEAR $ 215,000 THIS YEAR $ 228,000 121,000 131,000 94,000 97,000 Other expenses Net income 49,000 49,000 45,000 48,000 Finished goods 2,000 5,000 inventory Work-in-process 10,000 12,000 inventory Raw material inventory 5,000 6,000 Total inventory 17,000 23,000 (average for year) Other current assets 91,000 110,000 Other assets 213,000 242,000 Total assets 321,000 375,000