Maple Leaf, Inc $\$ 2,500,000$ W Ork-In-Process $\$ 1,000,000$

Maple Leaf, Inc., a television manufacturer, would like to reduce its inventory. To this end, you are asked by the operations manager to assess its inventory level. You have the following information on inventories from last year's financial statement: In addition, the cost of goods sold last year (50 weeks) was $15 million. What was the inventory turnover? Raw materi als $\$ 2,500,000$
W ork-in-process $\$ 1,000,000$
Finished goods $\$ 800,000$

A) less than or equal to 2
B) greater than or equal to 2 but less than 3
C) greater than or equal to 3 but less than 4
D) greater than or equal to 4

Correct Answer:

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