Problem:
The McDonald's fastfood restaurant on campus sells an average of 4,800 quarter-pound hamburgers each week. Hamburger patties are resupplied twice a week, and on average the store has 465 pounds of hamburger in stock. Assume that the hamburger patties cost $3 a pound.
Required:
Question 1) What is the inventory turnover for the hamburger patties? On average, how many days of supply are on hand? Provide thorough explanation of the given question.