Inventory turnover at GTM Inc.:The average inventory levels at GTM are $1,200,000 and $2,500,000, for raw materials and WIP respectively. In addition, the average finished goodsinventory is $3,750,000, and cost of goods sold for the current year are expected to be about $22 million.What is the inventory turnover for GTM Inc.?

Inventory turnover at GTM Inc.:The average inventory levels at GTM are $1,200,000 and $2,500,000, for raw materials and WIP respectively. In addition, the average finished goodsinventory is $3,750,000, and cost of goods sold for the current year are expected to be about $22 million.What is the inventory turnover for GTM Inc.?

EBK CONTEMPORARY FINANCIAL MANAGEMENT

14th Edition

ISBN:9781337514835

Author:MOYER

Publisher:MOYER

Chapter3: Evaluation Of Financial Performance

Section: Chapter Questions

Problem 14P

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