Calculate the average investment in inventory

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Reference no: EM131489145

Question: Calculate the average investment in inventory for each of the following situations. Assume a 365-day year.

a. The firm's annual sales were $19 million, its gross profit margin was 34%, and its average age of inventory is 45 days. Round your answer to the nearest dollar.
$

b. The firm's annual sales were $321 million, its cost of goods sold is 83% of sales, and it turns its inventory 10 times per year. Round your answer to the nearest dollar.
$

c. The firm's annual cost of goods sold total $125 million, and it turns its inventory about every 67 days. Round your answer to the nearest dollar.
$

Reference no: EM131489145

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