Contemporary Mathematics for Business & Consumers 8th Edition by Robert Brechner,Geroge Bergeman

Exercise 2

A Foot Locker store had net sales of $435,900 for the year. The beginning inventory at retail was $187,600, and the ending inventory at retail was $158,800.
a. What is the average inventory at retail
b. What is the inventory turnover rounded to the nearest tenth
c. If the turnover rate for similar-sized competitors is 3.8 times, calculate the target average inventory needed to theoretically come up to industry standards.