The owner of a large machine shop has just finished its financial analysis from the prior fiscal year. Following is an excerpt from the final report: Net revenue $ 335,000

The owner of a large machine shop has just finished its financial analysis from the prior fiscal year. Following is an excerpt from the final report: Net revenue $ 335,000 Cost of goods sold 298,000 Value of production materials on-hand 42,500 Value of work-in-process inventory 53,000 Value of finished goods on-hand 20,500 a. Compute the inventory turnover ratio (ITR). (Round your answer to 1 decimal place.) b. Compute the weeks of supply (WS). (Do not round intermediate calculations. Round your answer to 1 decimal place.)

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