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Brums [2.3K]
3 years ago
10

Consider a firm with an annual net income of $20 million, revenue of $60 million and cost of goods sold of $25 million. If the b

alance sheet amounts show $2 million of inventory and $500,000 of property, plant & equipment.
a) What is the inventory turnover?

b) How many weeks of supply does the firm hold?
Business
1 answer:
Eduardwww [97]3 years ago
8 0

Answer:

Explanation:

a.) Inventory turnover = Cost of goods sold / Inventory

Cost of goods sold= $25mill.

Inventory = $2mill.

Therefore, Inventory turnover= 25/2 = 50

b.) Weeks of supply held =( Inventory / Cost of goods sold) *52

**It's multiplied by 52 since there are 52 weeks in a year.

Weeks of supply held = (2 / 25) *52 = 4.16 weeks

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Answer:

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Explanation:

A rivalrous good is one in which usage, by an individual limits the ability of another to use the same good. Rival goods are tangible. This means that they can be held or touched. Examples in this category are; A sports team shirt and, the Atlantic Blue Fin Tuna. Eating a Tuna would limit access to another person, who wants to eat Tuna at that point in time. The same would apply to wearing a sports shirt.

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Answer:

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Explanation:

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