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Compute the inventory turnover ratio

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Reference no: EM133092450

Question - 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 $376,000

Cost of goods sold 321,000

Value of production materials on hand 42,500

Value of work-in-process inventory 75,000

Value of finished goods on hand 31,500

Required -

a. Compute the inventory turnover ratio (ITR).

b. Compute the weeks of supply (WS).

Reference no: EM133092450

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