Biology Forums - Study Force

The following data are pulled from a recent Walsh Manufacturing annual report.

Assets
Raw material inventory   $120,000
Work-in-process inventory   $50,000
Finished goods inventory   $300,000
Property, plant & equipment   $500,000
Other assets     $200,000
Total assets   $1,170,000

Condensed Income Statement
Revenue   $2,000,000
Cost of goods sold   $600,000
Other expenses   $1,000,000
Net income   $400,000

Calculate: (a) Percent invested in inventory, (b) Inventory turnover, and (c) Weeks of supply.

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