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krok68 [10]
3 years ago
7

The McDonald's fast-food restaurant on campus sells an average of 4,000 quarter-pound hamburgers each week. Hamburger patties ar

e resupplied twice a week, and on average the store has 350 pounds of hamburger in stock. Assume that the hamburger patties cost $1.00 a pound. What is the inventory turnover for the hamburger patties
Business
1 answer:
san4es73 [151]3 years ago
3 0

Answer: 11.42 times

Explanation:

Inventory Turnover = Cost of Goods Sold / Average inventory

Where,

Cost of goods sold = 4,000 quarter-pound hamburgers each week x $1.00 a pound

COGS = $4,000 per week

Average Inventory = 350 pounds of hamburger

Inventory Turnover = 4000 / 350 = 11.42 times

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