HI, Please read carefully! I posted 2 questions and also attached the solutions of the problems which are in EXCEL. I want you to put them in WORD document and send it back asap. Thank you
Baker Mfg. Inc. wishes to compare 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.
a) What is Baker’s inventory turnover?
b) What is Baker’s percent of assets committed to inventory?
ARROW DISTRIBUTING CORP.
BAKER MFG. INC.
Cost of sales
The grocery industry has an annual inventory turnover of about 14 times. Organic Grocers, Inc. had a cost of goods sold last year of $10.5 million; its average inventory was $1.0 million. What was Organic Grocers’s inventory turnover, and how does that performance compare with that of the industry?