2b to its to have to its inventory turnover to those of industry leaders, who ha

Question

2b

to its to have to its inventory turnover to those of industry leaders, who have turnover of about 13 times per year and 8% of their assets invested in inventory. inventory Baker Mfg. Inc. $27,500 Net Revenue Cost of sales $21,380 $1,280 Inventory $17,230 Total assets a) What is Baker's inventory turnover? 16.70 times per year (round your response to two decimal places) b) What is Baker's percent of assets committed to inventory? (enter your response as a percentage rounded to two decimal places)

Explanation / Answer

Percentage of Assets commited to inventory = 1280/17230 = 7.43%

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