- Sapphire Aerospace Operates 52 Weeks Per Year And Its Cost Of Goods Sold Last Year Was 9 464 000 The Firm Carries Eig 1 (27.17 KiB) Viewed 70 times
C) What was the inventory turnover last year?
Sapphire Aerospace operates 52 weeks per year, and its cost of goods sold last year was $9,464,000. The firm carries eight items in inventory: four raw materials, two work-in-process items, and two finished goods. The following table shows last year's average inventory levels for these items, along with their unit values. Category Raw materials $5 Part Number RM-1 RM-2 RM-3 RM-4 WIP-1 WIP-2 FG-1 FG-2 Average Inventory Value per Units Unit 18,000 $1 5,000 2,000 $9 800 $10 3,000 $20 4,000 $24 1,000 $71 500 $88 Work-in- process Finished goods a. What is the average aggregate inventory value? $ (Enter your response as an integer.)