1. A company’s average inventory level was $750,000 in the first quarter of 2017. If the company started the year with $820,000 in inventory, what was its ending inventory level on March 31st?
2. If the company turned it's inventory 7.5 times in the first quarter of 2017 what was its Cost of Goods Sold (COGS)?
3. Assume the company expects to increase COGS in the 2nd quarter of 2017 by 10% (i.e. The answer to #2 +10%). In addition, the companys had $650,000 in inventory on June 31, 2017. What was the company's inventory turns in the 2nd quarter?