Last year RJT Enterprises had average inventories raw materials work-in-process and

Question

Last year, RJT Enterprises had average inventories (raw materials, work-in-process, and finished goods) of $7.5 million. During this same year the cost of goods sold was $30 million. The company operates 50 weeks per year.

a. What is their total inventory (measured as weeks of supply)?

b. What is their inventory turnover?

Answer

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