Question
The owner of a large machine shop has just finished its financial analysis from the prior fiscal year. Following is an excerpt from the final
The owner of a large machine shop has just finished its financial analysis from the prior fiscal year. Following is an excerpt from the final report:
| Net revenue | $ | 376,000 |
| Cost of goods sold | 321,000 | |
| Value of production materials on hand | 42,500 | |
| Value of work-in-process inventory | 75,000 | |
| Value of finished goods on hand | 31,500 | |
a. Compute the inventory turnover ratio (ITR). (Round your answer to 1 decimal place.)
b. Compute the weeks of supply (WS). (Do not round intermediate calculations. Round your answer to 1 decimal place.)
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Income Tax Fundamentals 2013
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
31st Edition
1111972516, 978-1285586618, 1285586611, 978-1285613109, 978-1111972516
