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A manufacturing company is implementing Lean principles to manage Work-In-Process (WIP) inventory. Requirements: Calculate the Work-In-Process (WIP) inventory turnover ratio for a department that had
A manufacturing company is implementing Lean principles to manage Work-In-Process (WIP) inventory.
Requirements:
- Calculate the Work-In-Process (WIP) inventory turnover ratio for a department that had $500,000 in COGS and average WIP inventory of $100,000.
- Propose strategies to reduce WIP inventory.
- Explain how reducing WIP supports Lean manufacturing efficiency.
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Ethical Obligations and Decision Making in Accounting Text and Cases
Authors: Steven Mintz, Roselyn Morris
4th edition
978-1259543470, 1259543471, 978-1259730191
