Problem 16-15 (Algo)The owner of a large machine shop has just finished Its financial analysis from the prior fiscal year. Following is an excerpt from thefinal report:Net revenueCost of goods soldValue of production materials on handValue of work-in-process inventoryValue of finished goods on hand$368,000317,00042,50059,00023,500a. Compute the inventory turnover ratio (ITR). (Round your answer to 1 decimal place.)Inventory turnover ratioper yearb. Compute the weeks of supply (WS). (Do not round Intermediate calculations. Round your answer to 1 decimal place.)Weeks of supply

Inventory turnover ratio:- The rate at which inventory stock is traded, utilized, and replenished is…

Problem 16-15 (Algo) 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 Cost of goods sold Value of production materials on hand Value of work-in-process inventory Value of finished goods on hand a. Compute the inventory turnover ratio (ITR). (Round your answer to 1 decimal place.) Inventory turnover ratio $368,000 317,000 42,500 59,000 23,500 Weeks of supply per year b. Compute the weeks of supply (WS). (Do not round Intermediate calculations. Round your answer to 1 decimal place.)

Problem 16-15 (Algo) 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 Cost of goods sold Value of production materials on hand Value of work-in-process inventory Value of finished goods on hand a. Compute the inventory turnover ratio (ITR). (Round your answer to 1 decimal place.) Inventory turnover ratio $368,000 317,000 42,500 59,000 23,500 Weeks of supply per year b. Compute the weeks of supply (WS). (Do not round Intermediate calculations. Round your answer to 1 decimal place.)

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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