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Show work if possible please Johnson Inc. Maintains an average inventory $140,000 (at cost). Last year, Johnsons sales volume was $3,600,000 and cost of goods
Show work if possible please
Johnson Inc. Maintains an average inventory $140,000 (at cost). Last year, Johnsons sales volume was $3,600,000 and cost of goods sold was $700,000. Akers has determined that its inventory carrying cost is 20 percent annually. Each sells $9 and there are 100,000 units on hand, 250 days in a year. 1. What was the inventory turnover rate? (Cost of goods sold/Average inventory at cost) 2. What is Days of supply. (Inventory on hand/daily sales) 3. How much was the inventory carrying cost for the year? $ (Avg Inv $ OH Carrying cost percentage) You manage inventory for your company and use a continuous review inventory system to control reordering items for stock. Your company is open for business 250 days per year. One of your most important items experiences demand of 100 units per day. You experience a lead time on orders from your supplier of 40 days The unit price, regardless of order size, is $14.00. Your ordering cost is $65. Your inventory carrying cost is 25%. Order quantity is 1000 pcs. SS is 10 day supply b. What is your reorder point? (ROP= (Demand x Lead- time) +SS) d. What is your average inventory? Inventory=(Order Quantity/2) + SS) (Avg Step by Step Solution
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