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Calculate what the average investment in inventory

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Question - Assuming a? 360-day year, calculate what the average investment in inventory would be for a? firm, given the following information in each case.

a. The firm has sales of $800,000?, a gross profit margin of 14 ?percent, and an inventory turnover ratio of 6.

b. The firm has a? cost-of-goods-sold figure of $400,000 and an average age of inventory of 50 days

c. The firm has a? cost-of-goods-sold figure of $1.3 million and an inventory turnover rate of 5.

d. The firm has a sales figure of $28 ?million, a gross profit margin of 18 ?percent, and an average age of inventory of 45 days.

Reference no: EM133078307

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