Jack Jones, the materials manager at Precision Enterprises, is beginning to look for ways to reduce inventories. A recent accounting statement shows…

Jack Jones, the materials manager at Precision Enterprises, is beginning to look for ways to reduce inventories. A recent accounting statement shows the following inventory investment by category: raw materials, $3,129,500; work-in-process, $6,237,000; and finished goods, $2,686,500. This year’s cost of goods sold will be about $32.5 million. Assuming 52 business weeks per year, express total inventory as

  1. Weeks of supply
  2. Inventory turns