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Integrated Manufacturing Inc. sells a variety of different SKUs to both business customers and consumers. Last year they sold $40 million worth of product. Their
Integrated Manufacturing Inc. sells a variety of different SKUs to both business customers and consumers. Last year they sold $40 million worth of product. Their cost of goods sold for the same period was $24 million. Their accounts payable averages $6 million at any point in time, while their accounts receivable averages $8 million. After a tremendous effort to lean-out the business, the inventory has dropped to $2 million and is expected to remain at that level for the foreseeable future. What are Integrated Manufacturing Inc.s inventory turns? (Round to 4 decimal places and assume a year has 365 days for any calculations involving the number of days in a year)
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