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The following data were collected for a retailer: Cost of goods sold $3,500,000 Gross profit $700,000 Operating costs $500,000 Operating profit $200,000 Total inventory $1,200,000
The following data were collected for a retailer:
Cost of goods sold | $3,500,000 |
Gross profit | $700,000 |
Operating costs | $500,000 |
Operating profit | $200,000 |
Total inventory | $1,200,000 |
Fixed assets | $750,000 |
Long-term debt | $300,000 |
Assuming 52 business weeks per year, express total inventory as:
Weeks of supply
Inventory turns
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