1. It is known it takes on average 160 days to sell a house. A realtor monitoring a local market last year estimated that about 94 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.
2. A furniture warehouse’s annual turns are 16.5 times, its Cost of Goods Sold (COGS) is $274.8 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.