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Author Question: Fairchild Garden Supply expects $700 million of sales this year, and it forecasts a 10% increase for ... (Read 11 times)

Hunchojack2019!!

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Fairchild Garden Supply expects $700 million of sales this year, and it forecasts a 10% increase for next year. The CFO uses this equation to forecast inventory requirements at different levels of sales: Inventories = $29 + 0.31(Sales). All dollars are in millions. What is the projected inventory turnover ratio, using the sales number, for the coming year?

◦

2.20


◦

2.65


◦

2.88


◦

3.00

Financial Management: Theory and Practice ¦ Brigham, Ehrhardt, Gessaroli, Nason ¦ 4th Edition
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Marked as best answer by Hunchojack2019!! on Aug 7, 2023

KobyRhoads

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Reply #1 on: Aug 7, 2023
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Hunchojack2019!!

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Reply 2 on: Aug 7, 2023
Thanks for the timely response, appreciate it

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