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Jack Jones, the materials manager at Precision Enterprises, is beginning to look for ways to reduce inventories. A recent accounting statement shows that the inventory
Jack Jones, the materials manager at Precision Enterprises, is beginning to look for ways to reduce inventories. A recent accounting statement shows that the inventory investment for raw materials is $3,844,100, for work-in-process is $6,726,000, and for finished goods is $2,818,000. This year's cost of goods sold will be about $31,252,000. Assume that there are 52 business weeks per year. What would be the inventory turnover? turns (Enter your response rounded to one decimal place.)
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