1. A grocery chain recently reported annual sales of $89 billion, inventory of $5.8 billion, and annual cost of goods sold of $64 billion. What are the firm's annual inventory turns?
2. Determine if it is true or false when two firms have the same inventory turn, they also have the same days of supply.
3. A manufacturer of farm equipment has annual turns of four, and its cost of goods sold is $44 billion. What is the average inventory it holds?