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Question
The following data are pulled from a recent Walsh Manufacturing annual report.
Assets
Raw material inventory $120,000
Work-in-process inventory $50,000
Finished goods inventory $300,000
Property, plant & equipment $500,000
Other assets $200,000
Total assets $1,170,000
Condensed Income Statement
Revenue $2,000,000
Cost of goods sold $600,000
Other expenses $1,000,000
Net income $400,000
Calculate: (a) Percent invested in inventory, (b) Inventory turnover, and (c) Weeks of supply.
Answer
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Weight Day
Package 1
Package 2
Package 3
Package 4 Monday
23
22
23
24 Tuesday
23
21
19
21 Wednesday
20
19
20
21 Thursday
18
19
20
19 Friday
18
20
22
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