1. A furniture warehouse’s annual turns are 17.8 times, its Cost of Goods Sold (COGS) is $23.1 million.
What is the average inventory it holds in $ million? Fill in a number that is accurate at least to the second decimal place. Remember do not fill in dollar sign or “million.” No explanation, no formula, no letters, no special characters. Just a number.
Hint: think 1$ million == 1 unit of inventory
2. It is known it takes on average 183 days to sell a house. A realtor monitoring a local market last year estimated that about 63 houses are on market at any point in time. Then how many transactions are closed last year? Fill in a number that is accurate at least to the second decimal place. Assume 365 days in a year. No letters, no explanations, no special characters.
3. Your third-party warehouse is bidding for a contract to store widgets as they are manufactured. However, widgets are perishable and should be turned an average of six times per year. The manufacturer produces at an average rate of 91 pallets per day. How many pallet positions should you devote to widgets to ensure that widgets turn as required? Assume 240 working days a year. Assume 50% space utilization. Please fill in a number with one decimal place. Just a number, no explanation, no unit, and no symbol.