Question
Fairchild Garden Supply expects $600 million of sales this year, and it forecasts a 15% increase for next year. The CFO uses this equation to
Fairchild Garden Supply expects $600 million of sales this year, and it forecasts a 15% increase for next year. The CFO uses this equation to forecast inventory requirements at different levels of sales: Inventories = $30.2 0.25(Sales). All dollars are in millions. What is the projected inventory turnover ratio for the coming year?
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Step 1 Calculate the next year sales as follows Next year sales S600 million x1015 S...
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Business Research Methods
Authors: Donald R. Cooper, Pamela S. Schindler
12th edition
9780077774431, 0073521507, 77774434, 978-0073521503
