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The Following Data Are Pulled from a Recent Walsh Manufacturing

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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\begin{array} { l r }\underline{\text { Assets}}\\ \text { Raw material inventory } & \$ 120,000 \\ \text { Work-in-process inventory } & \$ 50,000 \\ \text { Finished goods inventory } & \$ 300,000 \\ \text { Property, plant \& equipment } & \$ 500,000 \\ \text { Other assets } & \underline{\$ 200,000} \\ \text { Total assets } & \$ 1,170,000\\\\\\\underline{\text { Condensed Income Statement}}\\\text { Revenue } & \$ 2,000,000 \\\text { Cost of goods sold } & \$ 600,000 \\\text { Other expenses } & \underline{\$ 1,000,000} \\\text { Net income } & \$ 400,000 \end{array}


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

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(a) Percent invested in inventory = (120...

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