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The following data are pulled from a recent Walsh Manufacturing annual report. Assets Raw material inventory $160,000 Work-in-process inventory $90,000 Finished goods inventory $50,000 Property,
The following data are pulled from a recent Walsh Manufacturing annual report.
Assets
Raw material inventory | $160,000 |
Work-in-process inventory | $90,000 |
Finished goods inventory | $50,000 |
Property, plant & equipment | $300,000 |
Other assets | $200,000 |
Total assets | $1,050,000 |
Condensed Income Statement | |
Revenue | $1,800,000 |
Cost of goods sold | $1,000,000 |
Other expenses | $600,000 |
Net income | $200,000 |
Calculate:
(a)Percent invested in inventory
(b)Inventory turnover
(c)Weeks of supply
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