Mattress Wholesalers, Inc. is constantly trying to reduce inventory in its supply chain. Last year, cost of goods sold was $7.50 million and inventory was $1.50 million. This year, costs of goods sold is $8.60 millionand inventory investment is $1.60 million.a) What was its weeks of supply last year?weeks (round your response to two decimal places).weeks (round your response to two decimal places).b) What is its weeks of supply this year?c) Is Mattress Wholesalers making progress in its inventory reduction effort?Since the number of weeks that cover the supply hasMattress Wholesalers is makingno progressin its inventory-reduction effort.negative progressprogress

Given:Last year: COGS = $7.50 millionInventory = $1.50 millionThis year:COGS = $8.60…

Answered: a) What was its weeks of supply last…

Purchasing and Supply Chain Management

6th Edition

ISBN:9781285869681

Author:Robert M. Monczka, Robert B. Handfield, Larry C. Giunipero, James L. Patterson

Publisher:Robert M. Monczka, Robert B. Handfield, Larry C. Giunipero, James L. Patterson

Chapter2: The Purchasing Process

Section: Chapter Questions

Problem 1GPE

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