The average inventory at retail for the year for Quick Printing was $528,500. Their net sales for the year were $3,645,000. The inventory turnover rate published for a business of this size is 7.5 times. a. Calculate the actual inventory turnover rate
for the company. (Round your answer to the nearest tenth) b. If the turnover rate is below the industry standard of 7.5 times, calculate the target average inventory needed to match the industry standard.
a. 6.9 times
b. $486,000
You might also like to view...
Uber has been criticized for using which of the following?
A. flash marketing B. bundling C. surge pricing D. freemium
Several years ago, the Florida Orange Juice Growers Association ran a promotional campaign with the slogan "Orange juice. It isn't just for breakfast anymore." Based on this slogan, which of the four growth strategies was the association pursuing? Briefly explain your reasoning.
What will be an ideal response?
A committee has been formed to evaluate the jobs at LennoCorp. They have written each job title, with a list of its duties and responsibilities, on a separate index card. Now they are putting those cards in order of importance. This committee is using a job ranking system to evaluate the jobs.
Answer the following statement true (T) or false (F)
A local optimum is a point in the feasible region with a better value than any other feasible point in the small neighborhood around it
a. True b. False