Andrew Manufacturing held an average inventory of $1.4 million (raw materials, work-in-process, finished goods) last year. Its
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Question:
Andrew Manufacturing held an average inventory of $1.4 million (raw materials, work-in-process, finished goods) last year. Its sales were $8.1 million, and its cost of goods sold was $5.5 million. The firm operates 280 days a year. What is the inventory days' supply? Do not round intermediate calculations. Round your answer to one decimal place.
Inventory days' supply (IDS): days
\What target inventory level is necessary to reach a 30- and 15-day inventory days' supply during the next two years? Do not round intermediate calculations. Round your answers to the nearest dollar.
Target inventory level (30-day): $
Target inventory level (15-day): $
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