Help Question 2(a)

a. Calculate the average investment in inventory for each of the following situations. Assume a 365- day year. i. A firm's annual sales were Ksh18 million; its gross profit margin as 32 percent, and its average age of inventory is 45 days. ii. A firm's annual sales were Ksh 325 million, its cost of goods sold was 80 percent of sales, and it turns its inventory 10 times per year. iii. A-firm's annual cost of goods sold total Ksh 120 million, and it turns its inventory about every 70 days. b. A table of data is presented for cost of goods sold and ending inventory for the first 6 month of 2002 for Wynn Manufacturing Company