The Following Data Are Pulled from a Recent Walsh Manufacturing

Essay

The following data are pulled from a recent Walsh Manufacturing annual report.
$\begin{array} { l r }\underline{\text { Assets}}\\ \text { Raw material inventory } & \$ 120,000 \\ \text { Work-in-process inventory } & \$ 50,000 \\ \text { Finished goods inventory } & \$ 300,000 \\ \text { Property, plant \& equipment } & \$ 500,000 \\ \text { Other assets } & \underline{\$ 200,000} \\ \text { Total assets } & \$ 1,170,000\\\\\\\underline{\text { Condensed Income Statement}}\\\text { Revenue } & \$ 2,000,000 \\\text { Cost of goods sold } & \$ 600,000 \\\text { Other expenses } & \underline{\$ 1,000,000} \\\text { Net income } & \$ 400,000 \end{array}$


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